Dec 12. 2017 No Room left in A/S $172,500
DEC !2,2017 DOOMSDAY
CannaSys, Inc. entered into a Securities Purchase Agreement ("SPA") with Adar Bays, LLC, a Florida limited liability company ("Adar Bays"), and executed three 8% Convertible Redeemable Promissory Notes, each in the principal amount of $57,500 (the "Notes"). On December 20, 2016, Adar Bays funded the first Note for $57,500, less $16,750 in a combination of due diligence costs and past-due expenses owing by CannaSys, which were retained and disbursed by Adar Bays. Under the terms of the SPA, the second and third Notes are initially paid for by Adar Bays' issuance to CannaSys of two offsetting collateralized notes for $57,500 (the "Buyer Notes"). The Buyer Notes do not become effective until Adar Bays funds the respective Notes, which funding is in CannaSys's sole discretion. The first Note and the second and third Notes (when funded by the offsetting Buyer Notes) accrue interest at the rate of 8% per annum and mature on December 12, 2017 . The outstanding amounts due under the Notes are immediately convertible into restricted shares of CannaSys common stock after 180 days from the issue date, at Adar Bays' sole discretion, at 50% of the lowest trading price for the common stock for the 25 consecutive prior trading days immediately preceding the conversion date, with some exceptions.
PLUS 44K Michael Tew Retainer Due Dec 31, 2017.
When is the REVERSE SPLIT BOMB going to Drop ?
UGLY UGLY DECEMBER
AI
