ad-1: Tell me where I'm wrong here -
This from the 8-K of 12/29/17 -
"The Note matures on December 29, 2018 and accrues interest at the rate of eight percent (8%) per annum and may be prepaid in whole or in part, at any time and from time to time, without premium or penalty. The Note shall be convertible into shares of the Company’s common stock from time to time if not paid on or before the maturity date, at Flight Time’s sole option, upon five (5) days written notice to the Company of Flight Time’s desire to convert such Note into shares of common stock at the rate of 50% of the five-day average closing price that is immediately prior to the day the notice is delivered to the Company."
First of all, I'm guessing the company has not paid thhe $220K, so they will be converting starting January, 2019, unless of course the deal never closed in the first place, which is possible/likely since there was no announcement. Best case scenario for shareholders then would be that the deal closed and company does some hype early next year in an effort to provide a market for Flight Time to dump their shares at .0001 with 100% profit at that price (they will convert at .00005). That still leaves EVERYONE else at a 0% profit and lucky just to get out before volume dries up.
Why else is APPZ not even providing updates, except to make the above scenario happen? Seems to they want to keep the price at .0001 so they/Flight Time can convert at .00005 and then sell at .0001?
This would make APPZ a complete and total scam, in my view, designed to provide a few people an automatic double with volume and the rest of us with a flat exit at best, if we're lucky.
Tell me where I'm wrong here, ad-1. Thanks! SS
