GRCK: Partial List of Toxic Notes Coming Due:
From the Filings:
On February 24, 2017, the Company executed a convertible promissory note for $24,000 with an OID of $4,000. The loan is due on February 24, 2018. The lender has the right to convert the principal amount and unpaid interest of the loan at a rate of the lower of $0.03 per share or 60% of the lowest trading price during the prior 20 days of conversion.
On May 12, 2017, the Company executed a convertible promissory note for $60,000 with an OID of $3,000. The loan bears interest at 12% per annum and is due on February 20, 2018. In the event of default, the interest rate increases to 22% per annum. The lender has the right to convert the principal amount and unpaid interest of the loan beginning 180 days after original loan date at a rate of 61% of the average of the two lowest trading price during the prior 15 days of conversion.
On February 28, 2017, the Company executed a convertible promissory note for $36,000 with an OID of $6,000. The loan is due on February 28, 2018. The lender has the right to convert the principal amount and unpaid interest of the loan at a rate of the lower of $0.03 per share or 60% of the lowest trading price during the prior 20 days of conversion. During the nine months ended September 30, 2017 the entire balance of principal and interest was converted into 6,360,000 shares of common stock.
On March 14, 2017, the Company executed a convertible promissory note for $15,000. The loan bears interest at 10% per annum and is due on March 9, 2018. The lender has the right to convert the principal amount and unpaid interest of the loan at a rate of the lower of $0.03 per share or 55% of the lowest trading price during the prior 20 days of conversion.
On March 14, 2017, the Company executed a convertible promissory note for $15,000. The loan bears interest at 10% per annum and is due on March 9, 2018. The lender has the right to convert the principal amount and unpaid interest of the loan at a rate of the lower of $0.03 per share or 55% of the lowest trading price during the prior 20 days of conversion.
On July 5, 2017, the Company executed a convertible promissory note for $50,000 with an OID of $7,500. The loan bears interest at 9% per annum and is due on June 26, 2018. The lender has the right to convert the principal amount and unpaid interest of the loan at a rate of 58% of the average of the lowest trading price during the prior 15 days of conversion. This loan has prepayment penalties.
On September 27, 2017, the Company executed a convertible promissory note for $53,000 with an OID of $3,000. The loan bears interest at 12% per annum and is due on June 30, 2018. In the event of default, the interest rate increases to 22% per annum. The lender has the right to convert the principal amount and unpaid interest of the loan beginning 180 days after original loan date at a rate of 61% of the average of the two lowest trading price during the prior 15 days of conversion.
Where are ya ?, Where Do You Want To Be ?
ALL of My Posts are In My Opinion Only !!
