Just some facts on convertible Notes due in 2019:
On August 20, 2018, the Company issued a Convertible Note for $30,000 for working capital. The note is convertible at the lesser of $0.07 or 70% of the lowest trading price of the common stock in the 5 days prior to conversion. A beneficial conversion feature has been recorded as a debt discount of $10,786, of which $10,352 remains at November 30, 2018.
On May 3, 2018, the Company issued a Convertible Note for $10,000 for working capital. The Note is due May 3, 2019 and bears 8% interest annually. The note is convertible at the lesser of $0.07 or 70% of the lowest trade price of the common stock in the in the 5 days prior to conversion.
On March 15, 2018, the Company issued a Convertible Note for $20,000 for working capital. The Note is due March 15, 2019 and bears 8% interest annually. The note is convertible at the lesser of $0.07 or 70% of the lowest trade price of the common stock in the in the 5 days prior to conversion.
On March 15, 2018, the Company issued a Convertible Note for $15,000 for working capital. The Note is due March 15, 2019 and bears 8% interest annually. The note is convertible at the lesser of $0.07 or 70% of the lowest trade price of the common stock in the in the 5 days prior to conversion.
On February 23, 2018, the Company issued a Convertible Note for $20,000 for working capital. The Note is due February 23, 2019 and bears 8% interest annually. The note is convertible at the lesser of $0.07 or 70% of the lowest trade price of the common stock in the in the 5 days prior to conversion.
On February 23, 2018, the Company issued a Convertible Note for $8,100 for working capital. The Note is due February 23, 2019 and bears 8% interest annually. The note is convertible at the lesser of $0.07 or 70% of the lowest trade price of the common stock in the 5 days prior to conversion.
On February 23, 2018, the Company issued a Convertible Note for $4,200 for rent and compensation. The Note is due February 23, 2019 and bears 8% interest annually. The note is convertible at the lesser of $0.07 or 70% of the lowest trade price of the common stock in the 5 days prior to conversion. A beneficial conversion feature has been recorded as a debt discount of $1,050.
Comment: The total amount due from these Convertible Notes is about $88,000. Not really a big deal, but with a conversion price of about $.01 will result in the issuance of about 8.8M shares of QMKR. (I'm assuming a price of $.015 at the time of conversion. 70% of $.015 = $.0105)
