Convertible notes here are massive and pyscho. They will use these Drones as Target Practice IMO. Lower this goes, the conversions will be insane.
On January 17, 2018, the Company issued a convertible note payable the principal amount of $165,000. Principal of the Note bears interest at the rate of 8% per annum and is due January 17, 2019. An original debt discount in the amount of $ 9,000 on the issuance of the note and will be amortized over the life of the note.
The Note is convertible at the option of the holder into common stock of the Company at a conversion price he lesser of the trading price of the common stock on the trading day prior to the closing date of the note or 50% of the lowest trading or closing bid for the common stock during the 20 trading day period immediately prior to conversion.. Upon issue, the Company recorded derivative liabilities for the conversion feature of the convertible notes and warrants, based up on the Binomial Fair Value Model and using the following assumptions: an exercise price of $0.052, our stock price on the date of grant $.024, expected dividend yield of 0%, expected volatility of 113.400, risk free interest rate of 1.79 for notes payable, and remaining term of 1.00 year. Upon initial valuation, the derivative liability of $156,000 was recorded as a debt discount which is being amortized over the life of the note payable.
As of October 31, 2018, the derivative liability was recalculated using the Binomial Fair Value Model as $ 297,793 and there is an unamortized balance of debt discount of $ 34,375.
On January 22, 2018, the Company issued a convertible note payable the principal amount of $165,000. Principal of the Note bears interest at the rate of 12% per annum and is due October 22, 2018.
The “Conversion Price” will be the lesser of (i) the lowest trading price of our common stock during the twenty-five-day trading period prior to the issue date of the Note and (ii) 50% of the lowest trading price of our common stock during the twenty-five-day trading period prior to the conversion. Upon issue, the Company recorded derivative liabilities for the conversion feature of the convertible notes and warrants, based up on the Binomial Fair Value Model and using the following assumptions: an exercise price of $0.037, our stock price on the date of grant $.079, expected dividend yield of 0%, expected volatility of 113.400, risk free interest rate of 1.79 for notes payable, and remaining term of .75 year. Upon initial valuation, the derivative liability of $165,000 was recorded as a debt discount which is being amortized over the life of the note payable.
As of October 31, 2018, the derivative liability was recalculated using the Binomial Fair Value Model as $ 297,793 and there is an unamortized balance of debt discount of $ 34,375.
NOTE 7 – CONVERTIBLE NOTES PAYABLE (CONTINUED)
On May 8, 2018, the Company issued a convertible note payable the principal amount of $125,000. Principal of the Note bears interest at the rate of 8% per annum and is due January 8, 2019.
The “Conversion Price” will be the lesser of (i) the lowest trading price of our common stock during the twenty-five-day trading period prior to the issue date of the Note and (ii) 50% of the lowest trading price of our common stock during the twenty-five-day trading period prior to the conversion. Upon issue, the Company recorded derivative liabilities for the conversion feature of the convertible notes and warrants, based up on the Binomial Fair Value Model and using the following assumptions: an exercise price of $0.024, our stock price on the date of grant $.05, expected dividend yield of 0%, expected volatility of 137.100, risk free interest rate of 2.44 for notes payable, and remaining term of .75 year. Upon initial valuation, the derivative liability of $125,000 was recorded as a debt discount which is being amortized over the life of the note payable.
As of October 31, 2018, the derivative liability was recalculated using the Binomial Fair Value Model as $ 225,674 and there is an unamortized balance of debt discount of $ 48,611.
On May 10, 2018, the Company issued a convertible note payable the principal amount of $125,000. Principal of the Note bears interest at the rate of 12% per annum and is due January 9, 2019.
The “Conversion Price” will be the lesser of (i) the lowest trading price of our common stock during the twenty-five-day trading period prior to the issue date of the Note and (ii) 50% of the lowest trading price of our common stock during the twenty-five-day trading period prior to the conversion. Upon issue, the Company recorded derivative liabilities for the conversion feature of the convertible notes and warrants, based up on the Binomial Fair Value Model and using the following assumptions: an exercise price of $0.024, our stock price on the date of grant $.05, expected dividend yield of 0%, expected volatility of 137.100, risk free interest rate of 2.44 for notes payable, and remaining term of .75 year. Upon initial valuation, the derivative liability of $125,000 was recorded as a debt discount which is being amortized over the life of the note payable.
As of October 31, 2018, the derivative liability was recalculated using the Binomial Fair Value Model as $ 225,674 and there is an unamortized balance of debt discount of $ 48,611.
On August 1, 2018, Drone Guarder, Inc., a Nevada corporation (the “Company”) entered into a Securities Purchase Agreement (the “Power Up SPA”) with Power Up Lending Group Ltd. (“Power Up”) pursuant to which Power Up purchased a convertible promissory note evidencing a loan of $153,000. On August 1, 2018, the Company issued Power Up a convertible note totaling $153,000 (the “Power Up Note”). The Power Up Note entitles the holder to 12% interest per annum and matures on May 15, 2019.
Power Up may convert the Power Up Note into shares of the Company’s common stock beginning on the date which is 180 days from the issuance date of the Power Up Note, at a price equal to 65% of the lowest two (2) trading prices during the 20 trading day period ending on the last complete trading date prior to the date of conversion, provided, however, that Power Up may not convert the Power Up Note to the extent that such conversion would result in Power Up’s beneficial ownership being in excess of 4.99% of the Company’s issued and outstanding common stock together with all shares owned by Power Up and its affiliates. The beneficial ownership limitation may not be waived by Power Up. Upon issue, the Company recorded derivative liabilities for the conversion feature of the convertible notes and warrants, based up on the Binomial Fair Value Model and using the following assumptions: an exercise price of $0.0143, our stock price on the date of grant $.022, expected dividend yield of 0%, expected volatility of 131.300, risk free interest rate of 2.16 for notes payable , and remaining term of .80 year. . Upon initial valuation, the derivative liability of $149,884 was recorded as a debt discount which is being amortized over the life of the note payable.
As of October 31, 2018, the derivative liability was recalculated using the Binomial Fair Value Model as $204,305 and there is an unamortized balance of debt discount of $ 99,923.
On August 29, 2018, Drone Guarder, Inc., a Nevada corporation (the “Company”) entered into a Securities Purchase Agreement (the “Power Up SPA”) with Power Up Lending Group Ltd. (“Power Up”) pursuant to which Power Up purchased a convertible promissory note evidencing a loan of $78,000. On August 29, 2018, the Company issued Power Up a convertible note of $78,000 (the “Power Up Note”). The Power Up Note entitles the holder to 12% interest per annum and matures on June 19, 2019.
Power Up may convert the Power Up Note into shares of the Company’s common stock beginning on the date which is 180 days from the issuance date of the Power Up Note, at a price equal to 65% of the lowest two (2) trading prices during the 20 trading day period ending on the last complete trading date prior to the date of conversion, provided, however, that Power Up may not convert the Power Up Note to the extent that such conversion would result in Power Up’s beneficial ownership being in excess of 4.99% of the Company’s issued and outstanding common stock together with all shares owned by Power Up and its affiliates. The beneficial ownership limitation may not be waived by Power Up. Upon issue, the Company recorded derivative liabilities for the conversion feature of the convertible notes and warrants, based up on the Binomial Fair Value Model and using the following assumptions: an exercise price of $0.0117, our stock price on the date of grant $.018, expected dividend yield of 0%, expected volatility of 131.300, risk free interest rate of 2.16 for notes payable , and remaining term of .80 year. . Upon initial valuation, the derivative liability of $76,411 was recorded as a debt discount which is being amortized over the life of the note payable.
As of October 31, 2018, the derivative liability was recalculated using the Binomial Fair Value Model as $ 104,122 and there is an unamortized balance of debt discount of $ 50,941.
On October 11, 2018, Drone Guarder, Inc., a Nevada corporation (the “Company”) entered into a Securities Purchase Agreement (the “Power Up SPA”) with Power Up Lending Group Ltd. (“Power Up”) pursuant to which Power Up purchased a convertible promissory note evidencing a loan of $53,000. On August 1, 2018, the Company issued Power Up a convertible note of $53,000 (the “Power Up Note”). The Power Up Note entitles the holder to 12% interest per annum and matures on July 30, 2019.
Power Up may convert the Power Up Note into shares of the Company’s common stock beginning on the date which is 180 days from the issuance date of the Power Up Note, at a price equal to 65% of the lowest two (2) trading prices during the 20 trading day period ending on the last complete trading date prior to the date of conversion, provided, however, that Power Up may not convert the Power Up Note to the extent that such conversion would result in Power Up’s beneficial ownership being in excess of 4.99% of the Company’s issued and outstanding common stock together with all shares owned by Power Up and its affiliates. The beneficial ownership limitation may not be waived by Power Up. Upon issue, the Company recorded derivative liabilities for the conversion feature of the convertible notes and warrants, based up on the Binomial Fair Value Model and using the following assumptions: an exercise price of $0.0061, our stock price on the date of grant $.012, expected dividend yield of 0%, expected volatility of 131.300, risk free interest rate of 2.44 for notes payable , and remaining term of .80 year. . Upon initial valuation, the derivative liability of $70,200 was recorded as a debt discount which is being amortized over the life of the note payable.
As of October 31, 2018, the derivative liability was recalculated using the Binomial Fair Value Model as $ 75,335 and there is an unamortized balance of debt discount of $ 35,344.
On issuance of the notes payable, financing fees and legal fees of $ 93,600 were deducted from loan proceeds. These have been deferred and are being amortized over the terms of the loans. During the period ended October 31, 2018, $ 67,529 of the deferred financing costs was amortized. The balance of deferred financing costs as at October 31, 2018 is $ 26,071.
During the period ended October 31, 2018, the Company issued 9,550,000 shares of common stock in settlement of promissory notes in the amount of $43,900.
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