Eco Building Products Inc. (fka ECOB)

[Long-vestor]

21,402,366,666 (21.4 BILLION) fully diluted outstanding only on defaulted notes, which means, the other 7 mil in debt and past due payroll taxes makes it much more.

The majority of the defaulted notes are 51% discounted, but I'm only using a 40% discount, so, super way under estimating a mountain of BS death spiral conversions. waiting like a spider to bite this scam.
ref: sept 2016 10Q: https://www.sec.gov/Archives/edgar/data/1409885/000149315216015462/form10-q.htm

Quote:
For all convertible notes described in the following paragraphs and for the warrants, and convertible preferred Series C and Series D shares described in Note 7, the fair value of the resulting derivative liability was $38,524,260 and $37,376,605 at September 30, 2016 and June 30, 2016, respectively.



many, most or all of this 38 million is in default, adding interest and penalties at an astronomical rate.

some also have a 51% discount default clause from original 40%.

So, just being nice and calculating this 38 million dollars only using the 40% rate, your best case scenario. which is far from reality cause I don't feel like wasting my time digging out the real current which many are 51% with 25 day look back.. The established low now is somewhere about .003.

Take 40% off that, Conversions are 0.0018 I.E. at only .0054, Redwood are tripled. aiming for 3 times the money 3 x 38 million, 114 million bucks is their Lowest goal target.

$38,524,260 / .0018 = 21,402,366,666 (21.4 BILLION) fully diluted outstanding.

That's exactly why this scam has no intentions, other than dumping the Toxic death spiral notes, and the single reason, ONLY reason this is NOT in bankruptcy is because Redwood and their pals own this POS, gamming to flip at least a double, reverse split and reverse split over and over and over..

It's just an endless Spiral of doom and gloom pretending they have a viable product, while the whole industry: retail stores, contractors, builders, suckered architects and dope 'investors' too knows it. All the while; real testing facilities and institutions uncovered the snake oil scam.

There's nothing but a huge spit hole here. [wink]

Toxic convertible debt in default: $38,524,260 / .0018 = 21,402,366,666 (21.4 BILLION) fully diluted outstanding.