APT Systems Inc (APTY)

[Werbe]

Near 200k notes maturing in the next 30 days. They're losing ground in the note war here. Almost double principal since beginning of 2018. Increase in AS shows this credit card is expected 2 see a shopping spree. Subsequent events show they signed up a new note after quarter in Dec. Since then I expect more notes on the plate. Any PR or news will be met with toxicity...

NOTE 11 - SUBSEQUENT EVENTS

Subsequent to the period ending October 31, 2018, the Company issued 39,644,839 shares of common stock in settlement of $58,000 of convertible notes and $1,720 of accrued interest in accordance with the terms of the convertible notes.

The Company entered into an agreement on December 6, 2018 for a new convertible note for $73,000. The note is due and payable on September 30, 2019 and bears interest at 8% per annum. If the Note is paid off prior to the due date, the Company is required to pay the face amount plus a penalty up to 42% depending on when it is prepaid. Also noted, after 181 days from the issuance date, the Note is convertible into the shares of the Company’s common stock. The conversion rate is equal to the greater of 58% of the average of the two lowest trading prices during the previous 15 trading days.