Followers | 439 |
Posts | 41282 |
Boards Moderated | 0 |
Alias Born | 10/07/2010 |
Wednesday, October 19, 2016 12:00:39 PM
NOTE 7 - CONVERTIBLE PROMISSORY NOTES
The company currently has approximately $309,940 in convertible notes currently in default. These notes consist of several individual notes created from January 2011 to the present in order to obtain funds for operations and the administration of the various acquisitions that have taken place over the period. The majority of the notes were instantly in default, and convertible into common shares of the issuer. Owners of the outstanding notes include but are not limited to Eastlight Enterprises, Inc., Globe Idol Capital, Inc., Peachtree Capital, LLC,[/b] and several others. It is the company’s intention to pay back these defaulted loans in cash whenever possible. Although, lenders can request conversion of the notes anytime after default, they are restricted to converting less than 9.99% of the number outstanding shares at any given time to avoid unnecessary dilution.
======
Didn't Paul already admit Ray Barton was an ADVISOR here?
Recent GVSI News
- Epazz, Inc. (OTC Pink: EPAZ) US Navy Collaboration ZenaDrone 1000 • InvestorsHub NewsWire • 11/09/2023 01:00:34 PM
- Epazz, Inc. (OTC Pink: EPAZ) US Navy Collaboration ZenaDrone 1000 Extreme Weather Demo • InvestorsHub NewsWire • 11/07/2023 12:29:43 PM
NanoViricides Reports that the Phase I NV-387 Clinical Trial is Completed Successfully and Data Lock is Expected Soon • NNVC • May 2, 2024 10:07 AM
ILUS Files Form 10-K and Provides Shareholder Update • ILUS • May 2, 2024 8:52 AM
Avant Technologies Names New CEO Following Acquisition of Healthcare Technology and Data Integration Firm • AVAI • May 2, 2024 8:00 AM
Bantec Engaged in a Letter of Intent to Acquire a Small New Jersey Based Manufacturing Company • BANT • May 1, 2024 10:00 AM
Cannabix Technologies to Deliver Breath Logix Alcohol Screening Device to Australia • BLO • Apr 30, 2024 8:53 AM
Hydromer, Inc. Reports Preliminary Unaudited Financial Results for First Quarter 2024 • HYDI • Apr 29, 2024 9:10 AM