Would take a screenshot but whats the point, buncha puppymonkeybabies.
This is an email from Warren about the details on the interest from the Fish Haven note. This is the note that he said only has/had a small conversion left.
FYI, I'm not blind or naive && I too am curious as too where all the shares are coming from. Recent trading activity heavily suggests more than a small conversion remained.
&&& BTW, I'd appreciate folks that keep posting messages with my name, start following the TOS
Hi Xxxxx
The note in question is the 2014 Note $100K, split as detailed in the note.
Regards
Warren
NOTE 5 – CONVERTIBLE NOTES PAYABLE
2011 Note
On May 1, 2011, the Company issued a 2.00% Convertible Note due April 30, 2012 with a principal amount of $32,000 (the “2011 Note”) for
cash. Interest on the 2011 Note is accrued annually effective from May 1, 2011 forward. The 2011 Note is unsecured and repayable on
demand. The 2011 Note is senior in right to all existing and future indebtedness which is subordinated by its terms and at the option of the
Lender, the principal along with any accrued interest may be converted in whole or part into Common Stock at a price of $0.001.
June 30, 2016 September 30, 2015
Building and Improvements $ - $ -
Plant Equipment 11,527 3,724
Computer Equipment - -
Office Equipment - -
Motor Vehicle 96,368 50,424
107,895 54,148
Less accumulated depreciation -5,260 -5,604
$ 102,635 $ 48,544
June 30, 2016
Note Face Amount Debt Discount Net Amount of Note
2011 Note $ 22,166 $ - $ 22,166
2012 Note 48,000 - 48,000
2013 Note 12,000 - 12,000
2014 Note 100,000 - 100,000
2015 Note 105,000 - 105,000
2016 Note 47,615 47,615
Total $ 334,781 $ - $ 334,781
2014 Note
On August 25, 2014, the Company issued two 12.00% Convertible Promissory Note due February 25, 2015 with a principal amount of
$50,000 each (the “2014 Note”) for cash. Interest on the 2014 Note is accrued annually effective from August 25, 2014 forward. The 2014
Note is unsecured.
The notes are convertible at a conversion price the lesser of (a) $0.25 per share, or (b) the price per share as reported on the Over-the-Counter
Bulletin Board on the conversion date. The Note Holders also received Warrants to purchase an aggregate of 800,000 shares of our common
stock at an initial exercise price of $0.25 per share. Each of the Warrants has a term of five (5) years.
The embedded conversion feature of the 2014 Notes and Warrants were recorded as derivative liabilities in accordance with relevant
accounting guidance due to the variable conversion price of the 2014 Notes. The fair value on the grant date of the embedded conversion
feature of the convertible debt was $145,362 as computed using the Black-Scholes option pricing model.
The Company established a debt discount of $100,000, representing the value of the embedded conversion feature inherent in the convertible
debt and warrant, as limited to the face amount of the debt. The debt discount is being amortized over the life of the debt using the straightline
method over the terms of the debt, which approximates the effective-interest method. For the year ended September 30, 2015, the
Company recorded amortization of the debt discount of $0. The balance of the debt discount was $0 at September 30, 2015. For the 3 months
ended June 30, 2016, the Company recorded amortization of the debt discount of $0. The balance of the debt discount was $0 at June 30,
2016.
