WHO THE HECK IS A OG Maco? NOT A MAINSTREAM ARTIST! JUST A BROKE STARVING ARTIST THAT WAS GIFTED FREE SHARES TO USE HIS NAME IN PUMP PRs! I SAY AGAIN PRO MUSIC IS NOT MERGER SUB OF $VNUE SO QUIT PUMPING LIKE IT IS! FOR SOME ODD REASON IF PRO MUSIC GETS ACQUIRED VNUE WILL STILL BE THE SAME STINKY PINKY SELLING BOOTLEG OBSOLETE DVDs! DO DVDs DO 1080p? NOPE!!
I SAY AGAIN DEAD BEAT CEO PAY YOUR BILLS MAN!!! HOW DOES IT TAKE TO SCRAPE UP 9K? GEEZ! ITS OBVIOUS HE ISN'T GOING TO PAY!
GOING TO TAKE MORE THAN SELLING BOOTLEG OBSOLETE DVDs! $VNUE HEAVY UNDER WATER WHOA!!
NOTE 5 – NOTE PAYABLE (IN DEFAULT)
On December 17, 2015, the Company issued a Promissory Note in the principal amount of $9,000. The note is due within 10 business days of the Company receiving a notice of effectiveness of its Form S-1 filed on February 22, 2016. Failure to make payment during that 10 business day period shall constitute an Event of Default, as a result of which the note will become immediately due and payable and the balance will bear interest at 7%. The Company’s Form S-1 was declared effective on March 8, 2016 and payment was due before March 22, 2016. The Company did not repay the note before March 22, 2016; therefore, the note is in default with an interest rate of 7%. The balance of the note payable outstanding was $9,000 as of March 31, 2019 and December 31, 2018, respectively.
BE ADVISED ALL NOTES WERE ISSUED WHEN THIS WAS TRADING ON OTCQB AT .04 AFTER THE RS! SO DONT THINK BE BECAUSE A NOTEHOLDER CANT SELL BELOW THE SUPPOSEDLY .035 THAT THIS SCAM STOCK STILL HOLDS THAT VALUATION! THAT WAS THE GOING RATE FOR OTCQB STOCKS, THAT NO LONGER APPLIES AS THIS IS A SUB PENNY STINKY PINKY NOW! EXPECT LEGAL ACTION BY THESE NOTEHOLDERS (Golock Capital, LLC) SOON AS I HAVE BEEN IN CONTACT WITH THEM ALSO! THIS WILL BE FORCED INTO BK!! MARK THIS POST!
c)
At December 31, 2018, the aggregate convertible notes balance to Golock Capital, LLC (“Lender”) was $302,067. The convertible notes have an interest rate of 10% per annum and maturity dates ranging from June 1, 2018 to November 1, 2018, and are convertible into shares of common stock of the Company at the lower of (i) $0.015 per share or, (ii) 58% of the lowest closing bid price in the 20 trading days prior to the day that the Lender requests conversion. At March 31, 2019, the balance of the notes outstanding was $302,067 but is subject to dispute with said holder as to the actual principal amount and interest calculations.
(d)
At December 31, 2018, the aggregate convertible notes balance to five lenders was $426,964 and the related debt discount was $179,162. The convertible notes have interest rates ranging from 8% to 12% per annum, maturity dates ranging from August 21, 2018 to June 19, 2020, and are convertible into shares of common stock of the Company at discount rates between 38% and 58% of the lowest trading price for the Company’s common stock during the prior twenty (20) trading day period, and for one lender, no lower than $0.035 per share. During the three months ended March 31, 2019, the Company entered into additional notes of $173,000, interest rates from 10% to 12%, and maturity dates ranging from January 22, 2020 to June 19, 2020 at conversion terms comparable to the terms above.
During the three months ended March 31, 2019, the lenders elected to convert a portion of the Company’s outstanding principal and interest balances into the Company’s stock. In aggregate, the Company converted outstanding aggregate principal and interest balances of $186,574 into 127,152,659 shares of common stock with a fair value of $400,947, or $0.0015 per share. The aggregate difference between the total principal and interest converted of $186,574, and the market value of the shares issued of $400,947, was recorded as a loss on settlement of notes payable of $214,373 in the condensed consolidated statements of operations for the three months ended March 31, 2019. At March 31, 2019, the aggregate balance of the notes outstanding was $424,431 and the related debt discount was $140,370.
