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Uh huh…About that.

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reaper247 Member Level  Friday, 11/10/17 10:08:33 PM
Re: namtae post# 13236
Post # of 15629 
Uh huh…About that.

Here are the terms of the note.

(edited for length)
"…The Convertible Notes bear interest at a rate of 10% per annum, payable quarterly on November 1, 2017, February 1, 2018, and May 1, 2018 and thereafter, on a monthly basis until maturity… The interest is payable in cash or, at the option of the Company… in fully tradable Company Common Stock… The final maturity of the Convertible Notes is November 1, 2018, but commencing on May 1, 2018 and on the first day of each month thereafter until maturity, we are required to redeem an amount of the Convertible Notes equal to 1/7th of the original principal amount, plus 10% of such monthly redemption amount as a bonus…"

So if we know that the company, its officers and affiliate cant dump shares because of lock ups and restrictions, and the note holders will only be receiving shares on the interest of the note, that isn’t due until November 2018, where are the 126M shares that are supposedly getting dumped into the float any day, going to come from?

TIA, IMO and FWIW.

BTW, had a lovely day. Thanks.


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