Thursday, October 05, 2017 3:48:52 PM
There is no evidence that shows they've converted anything, if you meant to imply that.
Also, the 200k is separated into 2 notes for 100k. As stated on Note 5 of the most recent annual report. One note is from the year 2010, and the other from the year 2013. These notes usually have a 6 month term and interest attached. Regarding the unusually high conversion entitlement that DeepGreen claims, that could be due in part to interest accumulated, as these notes have been sitting unpaid for a number of years. With 10% interest the notes could total 330k but that still leads to questions as the conversion is still very high.
Also, there is a chance that these notes are not even redeemable. For a note to convert you have to find a clearing house willing to convert them; meaning they're not legally obligated to clear the shares at all. One problem with that is if you're a company with a bad reputation, clearing houses will not touch your notes, leaving you stuck with a worthless piece of paper. These situations lead to companies with old debt stuck on their balance sheet.
The Managerial Agreements filing identifies the note holder as Antevorta Capital Partners Ltd. Their last PR was in 2013. And it appears that they stopped paying their $30/month hosting bill for their website, their website doesn't work. They're located in the British Virgin Islands, so I can't look up their tax status, but it's is entirely possible that they're not operational. Meaning that the shares may never get converted.
They've had plenty of opportunity to convert for the last 7 years when the ticker was EVDR. Overall EVDR had MUCH more favorable price action and volume than CRTC's flat line.
http://prsync.com/antevorta-capital-partners/
http://www.antevortacapital.com/
@OTCMondragon
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