Currently outstanding convertible debt is convertible into approximately 7,000,000,000 shares of Common Stock as of December 21, 2016
The Company issued approximately eight million dollars ($8,000,000) in convertible notes in 2015 and 2016. Currently outstanding convertible debt is convertible into approximately 7,000,000,000 shares of Common Stock as of December 21, 2016. Therefore, the reserve requirement is approximately 21,000,000,000 shares of Common Stock. Furthermore, if the Company’s stock price declines, the amount of shares required to be held in reserve increases and, in many cases, the Company is obligated to adjust the share reserves accordingly.
