Followers | 776 |
Posts | 81748 |
Boards Moderated | 6 |
Alias Born | 12/25/2009 |
Tuesday, July 11, 2017 1:30:34 AM
On February 14, 2017 the amounts due to former officers and or directors of the
Company were replaced with Series A convertible notes. These notes are noninterest
bearing and have a term of 3 years maturing on February 14, 2020 These
notes carry a conversion privilege which allows the holder to convert the debt, in
whole or in part any time during the 3 year period to shares of the Company at
$0.001 per share. The outstanding balance remaining at maturity shall bear interest at
12% per annum until fully paid.
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