Now to set the record straight on why the O/S has continued to rise. Contrary to Gangsta belief it is Convertible D's. IMO, it is the convertible notes that were issued in 3/17 which can be converted after 6 months and with the discount these are dirt cheap conversions.People really need to look at the detail. No disrespect for Gangsta but I believe most of the convertible holders will hold. Read closely and understand.
Noteholder 4
On March 2, 2017, the Company sold and issued a Convertible Promissory Note to an unrelated party, for the principal amount of $125,000 of which $0 was an
original issue discount resulting in cash proceeds to the Company of $125,000 pursuant to the terms of a Securities Purchase Agreement of even date therewith.
The Note, together with accrued interest at the annual rate of 8%, is due on March 2, 2018. The Note is convertible into the Company's common stock commencing
180 days from the date of issuance at a conversion price equal to 65% of the lowest trade price of the Company's common stock for the twenty prior trading days
including the date of conversion. There was $125,000 and $0 of principal and $4,877 and $0 of accrued interest due at June 30, 2017 September 30, 2016,
respectively.
On March 2, 2017, the Company sold a Convertible Promissory Note to an unrelated party, for the principal amount of $125,000 of which $0 was an original issue
discount resulting in cash proceeds to the Company of $125,000 pursuant to the terms of a Securities Purchase Agreement of even date therewith which was
funded on June 5, 2017. The Note, together with accrued interest at the annual rate of 8%, is due on March 2, 2018. The Note is convertible into the Company's
common stock upon funding at a conversion price equal to 65% of the lowest trade price of the Company's common stock for the fifteen prior trading days
including the date of conversion. There was $125,000 and $0 of principal and $685 and $0 of accrued interest due at June 30, 2017 September 30, 2016,
respectively.
