Extremely unlikely....
Convertible notes are eligible to be converted into shares 180 days after issuance of the note... With that in mind, let's see if todays selling pressure matches up with some convertible note dates that are outlined in the last 10Q...
On May 6, 2016, the Company entered into Securities Purchase Agreement (the “SPA”) and Convertible Promissory Note in the original principal amount of
$55,750 (the “Note”) with Auctus Fund, LLC (“Auctus”) pursuant to which Auctus funded $50,000 to the Company after the deduction of $5,750 of diligence and
legal fees. The Note bears interest at the rate of 10% and must be repaid on or before February 6, 2017. The Note may be prepaid by the Company at any time prior
to the date which is 180 days after the date of issuance of the Note in an amount equal to 110% of the amount outstanding.
180 days from May 6th 2016 = November 2nd 2016...
NEXT ON THE LIST.....
On May 10, 2016, MyDx, Inc. (the “Company”) entered into Securities Purchase Agreement (the “SPA”) and Convertible Promissory Note in the original principal
amount of $50,000 (the “Note”) with Crown Bridge Partners, LLC (“Crown”) pursuant to which Crown funded $43,000 to the Company after the deduction of a
$5,000 OID and $2,000 for legal fees. The Note bears interest at the rate of 8% and must be repaid on or before May 10, 2017. The Note may be prepaid by the
Company at any time prior to the date which is 180 days after the date of issuance of the Note at a premium to the amount outstanding at the time of prepayment
(as determined in the Note). The Note may be converted by Crown at any time after the six (6) month anniversary of the Note into shares of Company common
stock at a conversion price equal to 50% of the market price (as determined in the Note).
That one can be converted on November 6th, 2016... so next Monday the 7th...
and one more that needs to be on the radar for the near future is...
On May 24, 2016, MyDx, Inc. (the “Company”) entered into a Convertible Note (the “Note”) with Vista Capital Investments, LLC (“Vista”) in the Original
Principal Amount of $275,000 (including a 10% Original Issue Discount (“OID”)). The Company and Vista agreed to an initial funding under the Note of $55,000,
including an OID of $5,000 (“Initial Funding”). Future advances under the Note are at the sole discretion of Vista. The Company is only required to repay the
amount funded, including the prorated portion of the OID. The note bears interest at the rate of 10% and must be repaid on or before May 24, 2018. The Note may
be prepaid by the Company at any time prior to the date, which is 180 days after issuance of the Note at a premium to the amount outstanding at the time of
prepayment (as determined in the Note). The Note may be converted by Vista at any time after the six (6) month anniversary of the Note into shares of Company
common stock at a conversion price equal to 50 % of the market price (as determined in the Note)
This one will be eligible to convert into shares after November 20th....
