Imagination TV Inc. (IMTV)

[StockRocket]

61 BILLION SHARE OVERDRAFT AGAINST A/Shttps://www.otcmarkets.com/financialReportViewer?symbol=IMTV&id=168267
10. EQUITY
Over Subscribed
?As of December 31, 2015 and 2016, the Company was authorized to issue 4,000,000,000 shares of common stock and had 771,325,143 and 848,073,143 issued and outstanding, respectively. Per the terms of its convertible notes payable and outstanding warrant agreements, these debt instruments were convertible into an additional 61,448,654,545 shares of common stock, which exceeds the maximum number of shares of common stock that the Company is authorized to issue. As a result, all of the Company’s convertible notes payable were treated as if they were derivative liabilities as of December 31, 2016. The following is a summary of the convertible shares as of December 31, 2016:
Principal
$$
Accrued Interest
Total Amount Convertible
Conversion/ Exercise Price
Issuable Shares as of December 31,
2016
?
?
?
?
?
??
???
??
?
?
???
Holder One
$
117,697
$
91,255
$ 208,952
$ $ $ $ $ $
0.000010
20,895,200,000
??
???
???
?????
Holder Two
????????
???????????
??????????
???Warrants issued April 9, 2014
58,500
10,990
$ ? 69,490
0.000055
1,263,454,545
??
Holder Three
105,600
14,272
$ 119,872
0.000010
11,987,200,000
??
Holder Four
185,859
32,169
$ 218,028
0.000010
21,802,800,000
?
??
-
-
$-
0.000010
5,000,000,000
??
???
??
?
?
???
Warrants issued August 26, 2014
-
-
$-
0.000010
500,000,000
?
?
?
?
?
?
???
467,656
148,686
$ 616,342
$
0.000011
61,448,654,545
??????
?????????