Bots Inc (BTZI)

[lesgetrich]

In addition, Les is wrong again. For the GL project, MCIG gets 50% when plans are finalized; which there is no evidence that has happened.

Read the contract again...

Contract Attachment to 10-Q

E.

...Fabrication Deposit - Upon finalization and approval of the detailed design and specification, and budget, the client will provide a payment of 50% to commence fabrication

i.e. They get the deposit in order to place a PO for the panels and supplies. The plans have been finalized for some time. They've just been waiting for the funding to come through, which happened on August 15...

PNTV 8-K

Item 1.01 Entry Into a Material Agreement.


Players Network (the “Company” or “Registrant”) entered into a definitive funding agreement with RxMM Health Limited (“RxMM”), attached hereto as Exhibit 10.1, on August 15 th 2016 in which a convertible note will be issued for a total gross investment of $2,500,000 to be invested into Players Network. In consideration of such investment, RxMM will receive 50,000,000 callable warrants as a fee per the milestone schedule below, and will be entitled to 20% of all adjusted gross revenue and 20% of the gross income generated by the Company through any of its medical marijuana holdings or its media platform, of which shall reduce the principal until this debenture is either paid back or converted into equity. The warrants are callable if the stock averages 200% of the warrant strike price for any thirty (30) day trading period. The convertible debenture, bearing interest at 5% per annum, will mature 24 months after the full investment is realized, and is convertible into common stock at a 25% discount to the preceding 30 day average closing stock price.