Petrone Worldwide Inc. (fka PFWIQ)

[Toxic Avenger]

No, it's toxic by the fact that it's convertible into shares at a heavy discount to the market price, looking backwards.

Here's just one of the notes. Note that for $90k in cash, EMA can convert $100k to shares of stock at $.000165/share (low of $.0003 * 55%). If they were able to sell all those shares at today's low of $.0007 (which would take more days since it would have converted to 600 million shares), their $90k note would have netted them $325k in PROFIT.
Not too shabby. Of course retail is then stuck with $425k in shares they'll be hard pressed to sell at a profit because guess what? Another toxic lender can do the same thing!

On June 22, 2017, the Company consummated a transaction with EMA Financial, LLC. (“EMA”), whereby, upon the terms and subject to the conditions of a securities purchase agreement (the “EMA Securities Purchase Agreement”), the Company issued a convertible promissory note in the principal amount of $100,000 (the “EMA Note”) to EMA and the note is unsecured. The Company received proceeds of $90,000 in cash from EMA, which is net of offering costs of $10,000. The EMA Note bears interest at the rate of 10% per annum and is due on June 22, 2018. The Company may redeem the EMAs Note upon not more than three days written notice, for an amount (the “Redemption Price”) equal to: (i) if the Redemption Date is 120 days or less from the date of issuance of the EMA Note, 135% of the sum of the Principal Amount so redeemed plus accrued interest, if any; and (ii) if the Redemption Date is greater than or equal to 121 days from the date of issuance of the respective convertible debenture and less than or equal to 240 days from the date of After the expiration of 240 days, Any amount of principal or interest that is due under the EMA Note, which is not paid by the maturity date, will bear interest at the rate of 24% per annum until the EMA Note is satisfied in full. EMA is entitled to, at any time or from time to time, convert the EMA Note into shares of the Company’s common stock, at a conversion price per share equal to fifty five percent (55%) of the lowest traded price or closing bid price of the Company’s common stock for the twenty five (25) trading days immediately preceding the date of the date of conversion, upon the terms and subject to the conditions of the EMA Note. The EMA Note contains representations, warranties, events of default, beneficial ownership limitations, and other provisions that are customary of similar instruments. At September 30, 2017 the principal amount due on this note was $100,000.