DarkPulse Inc (DPLS)

[I-Glow]

From the 10-Q:

DarkPulse, Inc.

(formerly Klever Marketing, Inc.)

(Exact Name of Registrant as Specified in Its Charter)

" DarkPulse does not have current revenues, but anticipates revenues later in 2018. On July 18, 2018, the parties closed the Merger Agreement, as amended on July 7, 2018, and the name of the Company was subsequently changed to DarkPulse, Inc."

"The Company currently does not have sufficient cash to fund its operations for the next 12 months, and will require working capital to develop the DarkPulse business plan. Management is currently in the process of raising additional capital."

"I, Dennis M. O’Leary, certify that:

1.I have reviewed this report on Form 10-Q of DarkPulse, Inc.;"

But wait it gets even better:

"Effective July 18, 2018 the Company entered into a securities purchase agreement with Carebourn Capital, L.P., a Delaware limited partnership (“Carebourn”), providing for and issuing to Carebourn a convertible promissory note in the aggregate principal amount of $184,000, with a $24,000 original issue discount and $10,000 in transactional expenses due to Carebourn. The note bears interest at the rate of 12% per annum, is due and payable on June 20, 2019, and may be converted by Carebourn at any time after funding into shares of Company common stock at a conversion price equal to 60% of the average of the three lowest trading prices of the Company’s common stock during the 20 prior trading days. The $150,000 in net proceeds were used for payment of the consideration for the Merger."

So the first day the merger is effective O'Leary obtained a convertible note for $184,000 (with horrible terms) - if DarkPulse was generating so much revenue why was O'Leary forced to use more toxic financing.

IG