EMSF running perhaps because of its OTTV connection:
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 will be 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.
