List of CBDY Convertible Promissory Notes:
Issued on May 5, 2017 amounting to $23,000 - maturity date August 20, 2018
Issued on November 28, 2017 amounting to $33,000 - maturity date September 10, 2018
Issued on January 16, 2018 amounting to $28,000 - maturity date October 30, 2018
Issued on January 31, 2017 amounting to $33,000 - maturity date November 5, 2018
Issued on May 19, 2016 amounting to $75,000 - maturity date November 18, 2018
Issued on May 13, 2016 amounting to $75,000 - maturity date January 13, 2019
Issued on March 1, 2016 amounting to $150,000 each to two investors (Notes B and C)
The key terms/features of the convertible notes are as follows:
1. The Holders have the right from six months after the date of issuance, and until any time until the Notes are fully paid, to convert any outstanding and unpaid principal portion of the Notes, into fully paid and non–assessable shares of Common Stock (par value $.0001).
2. The Notes are convertible at a fixed conversion price of 45% of the lowest trading price of the Common Stock as reported on the OTC Pink maintained by the OTC Markets Group, Inc. upon which the Company’s shares are currently quoted, for the four (4) prior trading days including the day upon which a Notice of Conversion is received by the Company.
3. Interest on the unpaid principal balance of this Note shall accrue at the rate of twenty-four (24 %) per annum.
4. Beneficial ownership is limited to 4.99%.
5. The Notes may be prepaid in whole or in part, at any time during the period beginning on the issue date and ending on the maturity date September 1, 2018, beginning at 100% of the outstanding principal, accrued interest and certain other amounts that may be due and owing under the Notes.
During January and March 2018, the Company issued 2,764,706 (post reverse split) shares of common stock to Rubin Schindermann and Alexander Starr each in consideration of previously unpaid management compensation. The shares were issued at a price of $0.012 and $0.017 per share in January and March 2018 respectively.
During the quarter ended June 30, 2018, the Company issued 3,140,506 shares of common stock to individuals on conversion of convertible promissory notes amounting to $47,826 and 500,000 shares were issued as consideration for consulting services amounting to $22,500.
During the six months ended June 30, 2018, the Company issued 2,500,000 shares of common stock to the note holder for settlement of debt. See Note 5 in the unaudited condensed financial statement for detail.
