Zerify Inc (ZRFY)

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Kay lies!

At December 31, 2016 and 2015, $542,588 of notes payables are due to DART/Citco Global. The notes are convertible into shares of the Company’s common stock based on adjustable conversion prices, are secured by all of the Company’s assets, were due in 2010, and are currently in default. The adjustable conversion features of the notes are accounted for as derivative liabilities (see Note 7). DART/Citco Global did not process any conversions of notes into shares of common stock in fiscal 2016 or 2015. The Company has been in contact with the note holder who has indicated that it has no present intention of exercising its right to convert the debentures into shares of the Company's common stock. Under the terms of the secured debentures, the Company is restricted in its ability to issue additional securities as long as any portion of the principal or interest on the secured debentures remains outstanding. During 2016 or 2015, the Company did not obtain DART/Citco Global’s written consent related to any of its financing agreements.

Security Notes
Capital Change=shs decreased by 1 for 10 split Pay date=11/03/2008.
Capital Change=shs decreased by 1 for 1500 split Ex-date=03/18/2014.
Capital Change=shs decreased by 1 for 650 split Pay date=02/13/2015.
Capital Change=shs decreased by 1 for 1000 split. Pay date=08/04/2015.