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Wednesday, February 20, 2019 8:35:39 AM
Also, how can ApollyonZ dare to say this is toxic. Conversión Price is only at 10% discount from market price. With such a small discount, the only way the investor can really benefit is with share price going higher and higher. ( Benefit $ = Discount % * Share Price)
This small discount is really strange on the OTC.
The Note is in the original principal amount of $1,250,000.00, and bears interest at the rate of 8% per annum, payable on the six (6) month anniversary thereof and at maturity (November 8, 2019). The principal balance of the Note is convertible into Common Stock at a variable rate which is ten percent (10%) less than the lowest daily price of Common Stock for the 30 days immediately preceding conversion.
Link to SC 13D (See Pg.6 of pdf)
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