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Re: None

Monday, 03/27/2017 11:03:16 PM

Monday, March 27, 2017 11:03:16 PM

Post# of 61601
I swear I don't understand why people debate the terms of this loan. I posted the actual loan document, no one reads it, then they debate the terms. Unless you are involved in the writing of the loan, you don't know why the terms are what they are, and speculation is just daydreaming.
From the 8K that those that are speculating on but have obviously not actually read:
"vi. Reservation of Shares Issuable Upon Conversion. The Company covenants that it will at all times reserve and keep available out of its authorized and unissued shares of Common Stock a number of shares of Common Stock at least equal to Two Million (2,000,000) (the “Reserve Amount”) for the sole purpose of issuance upon conversion of this Note and payment of interest on this Note, each as herein provided, free from preemptive rights or any other actual contingent purchase rights of persons other than the Holder (and the other holders of the Notes). Following the effective date of a 4-for-1 reverse stock split to be effective on or around March 31, 2017, the reserve amount shall be 50,000,000 shares of Common Stock. The Company covenants that all shares of Common Stock that shall be so issuable shall, upon issue, be duly authorized, validly issued, fully paid and non-assessable."