Greater Cannabis Company Inc (GCAN)

[Sprycel]

SO THERE IS NO MISUNDERSTANDING OF WHAT 'COULD' HAPPEN THIS WEEK HERE ARE THE 2 ITEMS IN THE SEC FILINGS THAT HAVE THE CONVERSION RIGHTS COMING UP TODAY AND TOMORROW. WE DON'T WANT ANY BS, FALSE AND MISLEADING STATEMENTS TRYING TO SWAY AWAY FROM THE TRUTH:

Preferred B Shares--9,000,000 shares issued to EMET CAPITAL on February 14, 2019. Each share is subject to a 1 to 1 conversion to common stock from their issue date of February 14, 2019 If fully converted these Preferred B shares would require 9,000,000 common shares at no set price so whatever the street value is at time of conversion is what EMET gets be it .10 or $1.00, they get 9 million shares.
They cannot convert any shares till August 13th, 2019.

(vi) On February 12, 2019, (the “Issue Date”) the Company issued a 6% Convertible Redeemable Note to Eagle Equities, LLC (“Eagle”) having a principal amount of $1,200,000 of which $96,000 constituted an original issue discount (the “Eagle Note”). In connection with the Eagle Note, the Company and Eagle entered into a Securities Purchase Agreement. The Eagle Note is to mature one year from the Issue Date. Eagle is to fund the $1,104,000 purchase price of the Eagle Note in tranches. The first tranche of $250,000 was received by the Company on February 13, 2019.

The Eagle Note may be pre-paid in whole or in part by paying Eagle the following premiums:

PREPAY DATE PREPAY AMOUNT
= 30 days 105% * (Principal + Interest (“P+I”)
31- 60 days 110% * (P+I)
61-90 days 115% * (P+I)
91-120 days 120% * (P+I)
121-150 days 125% * (P+I)
151-180 days 130% * (P+I)

Any amount of principal or interest on the Eagle Note, which is not paid when due shall bear interest at the rate of twenty four (24%) per annum from the due date thereof until the same is paid (“Default Interest”).

Eagle has the right beginning on the date which is one hundred eighty (180) days following the Issue Date (AUGUST 12TH, 2019) to convert all or any part of the outstanding and unpaid principal amount of the Eagle Note into fully paid and non-assessable shares of common stock of the Company at the conversion price (the “Conversion Price”). The Conversion Price shall be, equal to 65% of the lowest closing price of the Company’s common stock as reported on the National Quotations Bureau OTC Market exchange which the Company’s shares are traded or any exchange upon which the Common Stock may be traded in the future (“Exchange”), for the fifteen prior trading days including the day upon which a Notice of Conversion is received by the Company. The Eagle Note contains other customary terms found in like instruments for conversion price adjustments.