Bantek Inc (BANT)

[vulken17]

The other thing that propels me to keep accumulating is that new terms granted to $DRUS from there creditor TCA Global Credit Master Fund
Obvious the company has an aggressive plan over the next two years to become more fiscally responsible regarding payments moving forward & the creditors know it.

Contracts since July have increased hastily and imo are just going to keep on coming as profitable programs are implemented. Dilution has slowed & if and when it does stop $DRUS will head back to pennies OTCQB status in a hurry.

Last know o/s

Authorized Shares

1,500,000,000

01/04/2019

Outstanding Shares

1,096,247,044

01/04/2019



8k agreement

Effective October 30, 2018, the registrant, Bantek, Inc d/b/a Drone USA, Inc. (“Drone USA”), entered into a First Amendment to Settlement Agreement dated October 30, 2018, with TCA Global Credit Master Fund, LP (“TCA”) under which Drone USA issued to TCA a Second Replacement Convertible Promissory Note (the “Note”) in the principal amount of $6,018,192.42.
 
The Note has a term of 26 months, has a reduced interest rate of 12% and requires reduced monthly payments on a Payment Schedule labeled “Exhibit A” to the Note. The Note also has a conversion rate for any unpaid principal and interest and a conversion price which is at a price equal to: (i) the Conversion Amount (the numerator) divided by (ii) eighty-five percent (85%) of the lowest of the daily volume weighted average price of the Borrower’s Common Stock during the five (5) Business Days immediately prior to the Conversion Date. No shares of Drone USA common stock can be issued to the extent TCA would own more than 4.99% of the outstanding shares of Drone USA common stock.
https://last10k.com/sec-filings/drus/0001213900-18-016027.htm