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Re: None

Thursday, 05/09/2019 9:34:05 PM

Thursday, May 09, 2019 9:34:05 PM

Post# of 33253
New 10Q is out. $44,000 in revenue, only $2k more than Q4 of 2018. They are continuing to raise convertible debt to pay the bills.

The new notes have terrible terms:

Subsequent to March 31, 2019, the company received $75,000 cash on the issuance of a conditional convertible promissory note in an amount of $80,000. The note bears interest at 10% per annum for six months and, if not paid at maturity, is convertible into common shares of stock at a rate of 68% of the lowest closing bid price for the 10 days previous to the conversion notice date.

Subsequent to March 31, 2019, the company received $500,000 cash on the issuance of a conditional convertible promissory note in an amount of $550,000. The note bears interest at 10% per annum for six months and, if not paid at maturity, is convertible into common shares of stock at a rate of 70% of the lowest closing bid price for the 15 days previous to the conversion notice date.

This company relies on dilution to keep the lights on and the rate of dilution continues to increase.
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