Eastgate Biotech Corp (fka ETBI)

[Snug Harbour]

It's not a toxic convertible note Janice. Northbridge doesn't get more shares to sell the cheaper the share price gets. They got 140M shares period.

$724,108.50 / 140M shares = .0051

It's not in NB's interest to kill the share price below .0051

He wanted to make money. Why would he think the stock price would go up?

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.