Flitways Technology Inc (FTWS)

[THall]

Wow isnt that strange, the volume picked up at the exact time a note holder wrote FTWS a letter of demand. Its almost like they dumped shares to cover that debt huh? SMH

In June 2018, the Company received a letter of demand from one of the convertible note holders (“Noteholder”). The Noteholder asserts the Company has breached several default provisions of the convertible promissory note dated March 6, 2017 (Convertible Note”) in the principal amount of $110,000. The Noteholder has demanded payment of approximately $475,000, or for the Company to cure certain breach of default, as to provide the Noteholder to convert the principal and interest into shares of the Company’s common stock and file the Company’s form 10Q for the three months ended March 31, 2018. Management believes the Company has properly accrued and recorded all penalties and interest due the Noteholder as of March 31, 2018. Should the Company agree with the Noteholders assessment of certain defaults occurring during the quarter ending June 30, 2018, it may record an additional expense and increase its liability to the Noteholder by approximately $270,000 as of the date of the letter.