Innerscope Hearing Technologies Inc (INNDD)

[petermic]

Just another penny stock with highly dilutive toxic debt. Same old, same old. This one is a little different because they are required to pay interest EVERY DAY!

Looks like the lowest price from last 20 days was .006. 65% of that is $0.004. $299,000 note converts into 74.4 million shares.

On November 10, 2017, the Company issued a convertible promissory note with a face value of $299,000, maturing on January 12, 2019, and stated interest of 10% to a third-party investor. The note is convertible at any time after ninety (90) days of the funding of the note into a variable number of the Company's common stock, based on a conversion ratio of 65% of the lowest trading price for the 20 days prior to conversion. The note was funded on November 10, 2017, when the Company received proceeds of $250,000, after disbursements for the lender’s transaction costs, fees and expenses. The Note also requires daily payments of $700 per day via ACH through January 12, 2019, when all unpaid principal and interest is du