Sun Pacific Holding Corp (SNPW)

[powerbattles]

I'm happy to see you bought this up because the conversion price is above $0.10 not .0005 at the level we trade right now.

On August 24, 2016, the Company issued two two-year unsecured convertible notes payable totaling $200,000 pursuant to a private placement memorandum. The notes matured on August 24, 2018 and have an annual interest rate of 12.5%. At the election of the holder, upon the occurrence of certain events, the notes can be converted into common stock of the Company at a conversion price per share equal to 50% of the average bid price for the 30 consecutive business days prior to conversion. The conversion feature was contingent upon i) the successful filing of a registration statement to become publicly traded, and ii) the company stock has become publicly quoted on the OTC Markets and iii) the conversion price is above $0.10.

YOU KEEP BRING UP THE FORBEARANCE AGREEMENT. THIS IS A GOOD NEWS FOR THE COMPANY. MATTER OF FACT THIS INDICATE THE CEO SEE A BRIGHT FUTURE AND WILLING TO GIVE THE COMPANY MORE TIME TO PAY HIM BACK.

THE LENDER IS THE CEO THE BORROWER IS THE COMPANY BORROW IN THE AMOUNT OF $332,474.00 and $135,528.00, AS OF EFFECTIVE DATE ACCRUED INTEREST IS $648,417.89 THE CEO WILLING TO FORBEARANCE. GOOGLE IT IF YOU STILL CLUELESS WHAT THAT MEAN. ROTFLMAO. FURTHER MORE...READ THE TERM BELLOW...


(d) Scope of Forbearance . During the Forbearance Period, the Lender will not (i) accelerate the maturity of the Obligations or initiate proceedings to collect the Obligations, (ii) initiate or join in filing any involuntary bankruptcy petition with respect to the Borrower under the Bankruptcy Code, or otherwise file or participate in any insolvency, reorganization, moratorium, receivership or other similar proceedings against Borrower under the laws of the United States, or (iii) repossess or dispose of any of the Collateral, through judicial proceedings or otherwise.