Chicanery.
Per the 10-K filed in April:
"On August 24, 2016, the Company issued to Hilander Limited, a business controlled by Mr. Jason Aspin, presently one of the Company’s directors, a $100,000 Secured Promissory Note bearing interest of 12% per annum compounded annually, together with a five-year warrant to purchase up to one hundred thousand shares of the Company’s common stock at an exercise price of $0.12 per share, and payable upon maturity in 2021 and secured by a security interest in substantially all of the assets of the Company and its subsidiaries. On October 12, 2017, Mr. Aspin was appointed a Board member of the Company."
"On August 24, 2016, the Company issued to Hilander Limited, a business controlled by Mr. Jason Aspin, presently one of the Company’s directors, a $100,000 Secured Promissory Note bearing interest of 12% per annum compounded annually, together with a five-year warrant to purchase up to one hundred thousand shares of the Company’s common stock at an exercise price of $0.12 per share, and payable upon maturity in 2021 and secured by a security interest in substantially all of the assets of the Company and its subsidiaries. On October 12, 2017, Mr. Aspin was appointed a Board member of the Company."
And now, in the 10-Q filed in November:
"Secured Promissory Note -$100,000 in August 24, 2016 bearing interest of 12% per annum compounded annually, together with a five-year warrant to purchase up to one million shares of the Company’s common stock at an exercise price of $0.12 per share, and payable upon maturity in 2021 and secured by a security interest in substantially all of the assets of the Company and its subsidiaries."
"Secured Promissory Note -$400,000 in October 18, 2016 bearing interest of 12% per annum compounded annually, together with a five-year warrant to purchase up to one million shares of the Company’s common stock at an exercise price of $0.12 per share, and payable upon maturity in 2021 and secured by a security interest in substantially all of the assets of the Company and its subsidiaries."
Those aren't demand notes, they're five year notes. Why did the number of warrants get bumped up? Was there a Company filing made to report it? How about Director Alpin....there's no sign of him reporting either the initial warrant issuance or the bump?
But can it core A apple?
Yes Ralph, of course it can core A apple.
