Wrap up Report 7.2 mil volume / just 86 trades.. stock down to .003... Good news after the bell though ! 8K out... 140 million new shares have been issued...but its just to pay off company debt...expected in ALL pink sheet stocks...clinic acquisition etc.
May 9th this went happened..since that time about 200 million shares have traded..
Its likely fully converted now ..notice they waited this long to put the 8k out...likely waited until it was all converted from shares to cash.. being that nearly 200 million traded and the pps plummeted, its likely they sold all of their shares.
DO THE MATH....140,000,000 SHARES X Lets say average just .007 per share....(many converted much higher)is 850k dollars.. they were owed 980k dollars...
BOTTOM MAY HAVE BEEN FOUND NOW ..BASED ON THE FEAR FACTOR NOW SHOULD BE GONE...COULD BE AN EASY 100 PERCENT GAIN FOR THE FOLKS BUYING NOW.. .003 TO .006 COULD BE EASY
On May 9, 2017, EastGate Biotech Corp. (the “Company”) entered into a Settlement Agreement with Northbridge Financial, Inc. (“Northbridge”), whereby Northbridge acquired liabilities of the Company in the amount of $724,108.50 (the “Debt”), which was owed by the Company to third parties related to debts related to the Company’s outstanding liabilities. The Company and Northbridge then entered into an Order Granting Approval of the Settlement Agreement, and Northbridge converted the Debt pursuant to a 3(a)(10) exemption into 140,000,000 shares of the Company’s common stock.
