Ironclad Encryption Corp. (fka IRNC)

[jwblue74]

The info below is most current from their last financial filing (10Q) ending on 31 Dec 2018. Total CD is $575,249 not including interest. Also, the O/S was 68,628,812 on 31 Dec 2018. So, that is a increase of 38,894,441 O/S. If all those shares were converted at PPS of .01 then $389K of the debt has been reduced. Some of those shares were converted at higher PPS since the stock was over .20 a few months back. Also, not all the CD debt is due now. I would have to look at each note to see what dates they mature on. My analysis, most of the CD debt is paid off for 2018. This could be the last tranche before the next tranche is issued to pay off the remaining 2018 CD debt if any remains. Could be the reason they updated the Share Structure on OTC Markets.

Convertible note payable, net, 10%   82,500              Convertible note payable, net, 10%   85,000                Convertible note payable, net, 10%   82,500                            Convertible note payable, net, 10%   73,819                             Convertible note payable, net, 12%   52,529                Convertible note payable, net,  9%   63,986                Convertible note payable, net,  9%   71,199              Convertible note payable, net, 10%   19,917              Convertible note payable, net, 10%   43,799  

Note: They issued a new CD note for $107,000 in Feb of 2019 which is due Feb 2020.

FOR VALUE RECEIVED, IRONCLAD ENCRYPTION CORPORATION (the “Company”) promises to pay to the order of ONE44 CAPITAL LLC and its authorized successors and permitted assigns (" Holder "), the aggregate principal face amount of One Hundred Seven Thousand Dollars exactly (U.S. $107,000.00) on February 14, 2020 (" Maturity Date ") and to pay interest on the principal amount outstanding hereunder at the rate of 10% per annum commencing on February 14, 2019. 

https://www.otcmarkets.com/filing/conv_pdf?id=13237147&guid=t523UFN_K2X6Sth

$IRNC