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Sunday, December 10, 2017 8:20:13 AM
Its a 25% discount when you take into consideration the full settled amount which is $628K. The actual discount is 25% on the shares actually being sold. Now, the way it is set up isn't a discount on the shares at all, the way I negotiated this, I am adding 25% to the debt amount so 1.25 * $628K = $756K which will be sold with NO DISCOUNT to market. Lets say for arguments sake we sell the shares at an avg of .01. My way will take 75.6M shares to do so. ($75.6K / .01 = 75.6M shares total). If I did it the other way on an avg sale price of .01 the math works this way: .01 * .75 (25% discount) = .0075/share conversion... on the 628K which would take 84M shares to convert the same amount of debt. We just took $1.8M off our books for less than 4% of the O/S. Those terms save shareholders 9 million shares... That's a big deal to anyone who knows anything about business.
We do not know for sure until financials come out and I have no reason to believe we were lied to. With the info I see I believe that most of the debt , if not all is paid. We should have our answer by Fri
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