Integrated Ventures Inc (INTV)

[SilverBack]

Wrong again! Here's what it says straight from the 8K which includes interest added.


Item 1.01. Entry into Material Definitive Agreement.

Restructure of Outstanding Viva Entertainment Group Promissory Note

In connection with the sale on April 5, 2016 of our Viva Entertainment Group Subsidiary to Black River Petroleum Corp. (“Black River”, which subsequently changed its name to “Viva Entertainment Group”), Black River issued to the Company in exchange for control of our subsidiary, a 10% promissory note in the principal amount of $100,000, due six months from the closing of the sale (the “Original Note”), which represented the purchase price paid by Black River (now Viva Entertainment Group) for our subsidiary. The Original Note did not have a Convertible Structure.

As of February 27, 2017, the Company and Viva Entertainment Group have signed an amendment to the Original Note (which as so amended is referred to herein as the “Amended Note”). The Amended Note is due on demand and convertible into shares of Viva Entertainment Group (Symbol: OTTV) common stock at a variable Conversion Price defined as 50% multiplied by the Market Price (representing a discount rate of 50%). “Market Price” means the lowest one (1) Trading Prices for the Viva Entertainment common stock the twenty (20) Trading Day period ending on the last complete Trading Day prior to the Conversion Date. “Trading Prices” means, for any security as of any date, the lowest traded price on the Over-the Counter Pink Marketplace, OTCQB, or applicable trading market (the “OTCQB”) as reported by a reliable reporting service reporting service. The Amended Note is filed as an exhibit to this Current Report, and reference is hereby made to that exhibit for the complete terms of the Amended Note.

Here is the last PR update.


One of the convertible notes payable with a principal balance of $18,150 and 605,000 warrants to purchase common stock of the Company were exchanged by a Note Holder for approximately $53,000 of a convertible note receivable from the April 6, 2016 sale by the Company of Viva Entertainment Group, Inc. ("OTTV"), a former wholly-owned subsidiary of the Company. The remaining approximately $53,000 convertible note receivable from the sale of OTTV is being converted by the Company into shares of OTTV common stock, which shares will be sold to provide operating capital. Initial conversions and sales of the OTTV shares have provided the Company with approximately $53,000 in cash. The Company plans to convert the remaining balance of the convertible note and sell the shares of the OTTV stock. The Company estimates to execute two additional conversions with estimated cash proceeds to the Company totaling $70,000 .

That $70k which was estimated at .0004 was 175M shares which is now worth $1.1M dollars and that doesn't include the 605K warrants which I can't find what the conversion is into common shares if it's 1M common for each warrant which is typical.