Sunset Island Group Inc (SIGO)

[chemist72]

According to the language below, it seems to me that Fife does not need to wait until August. He can get SIGO shares for his outstanding balance "any time after the Purchase Price Date".

The closing date for the agreements was on Feb. 13, 2018. So at least $850,000 was to be delivered on that date. Who knows how much more money SIGO may have borrowed from Fife since then??

3.1. Lender Conversions. Lender has the right at any time after the Purchase Price Date until the Outstanding Balance has been paid in full, including without limitation (a) until any Optional Prepayment Date (even if Lender has received an Optional Prepayment Notice) or at any time thereafter with respect to any amount that is not prepaid, and (b) during or after any Fundamental Default Measuring Period, at its election, to convert (each instance of conversion is referred to herein as a “Lender Conversion”) all or any part of the Outstanding Balance into shares (“Lender Conversion Shares”) of fully paid and non-assessable common stock, $0.0001 par value per share (“Common Stock”), of Borrower as per the following conversion formula: the number of Lender Conversion Shares equals the amount being converted (the “Conversion Amount”) divided by the Lender Conversion Price (as defined below).
….
A35. “Purchase Price Date” means the date the Initial Cash Purchase Price is delivered by Lender to Borrower.