We should get the company name changed here in iHub
While this is speculative, it appears that a lot of dilution just hit wire these past two weeks. Judging by the numbers in the latest filing ...
Convertible debenture, unsecured, interest bearing at 12% per annum,, convertible at 12/25/2017 with conversion price at a discount rate of 45% of market price which is the average of the lowest trading price during the twenty trading day period ending on the latest complete trading day prior to the conversion date, maturity date of 03/30/2018
= 33,000
Convertible debenture, unsecured, interest bearing at 12% per annum,, convertible at 02/18/2018 with conversion price at a discount rate of 45% of market price which is the average of the lowest trading price during the twenty trading day period ending on the latest complete trading day prior to the conversion date, maturity date of 05/30/2018
= 38,000
NOTE 8 - SUBSEQUENT EVENTS
On December 4, 2017, Mirage Energy Corporation entered into Securities Purchase Agreement with PowerUp Lending Group, Ltd. to issue an additional amount of convertible debenture in the amount of $53,000. Convertible debenture, unsecured, interest bearing at 12% per annum, convertible at 06/2/2018 with conversion price at a discount rate of 45% of market price which is the average of the lowest trading price during the twenty trading day period ending on the latest complete trading day prior to the conversion date, maturity date of 09/15/2018.
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So according to the above, the lender (oops, sorry, the crooks at PowerUp Lending Group, they are notorious) would be able to convert $33K these last few weeks, but surely by now, based on the volume, this would be done with, I mean how cheap would they be getting these shares, 3 cents, I just don't know.
Anyway I have taken out sizeable position, risky for sure, but we are so far from the top in such a short amount of time, all we need is an announcement about solid progress to be make and this shoots back up. It's been since July, so I would think an announcement would be forthcoming but articles on the internet certainly indicate a fantastic potential. Could try calling company but many of these small caps don't have IR or don't even answer the phone or respond to emails even if they are doing stuff behind the scenes. Maybe the CEO can turn in some of his shares to the treasury to help the cause if necessary.
Anyway I just can't imagine this is the end of the trail for the company, and am prepared to lose my investment if need be.
