Greater Cannabis Company Inc (GCAN)

[No-Quarter]

The EMET note filings of a few weeks back is very clear on this.

https://www.sec.gov/Archives/edgar/data/1695473/000149315219015857/form8-k.htm

From Section 10.1 - FOR VALUE RECEIVED, Greater Cannabis Company, Inc. (the “Company”) promises to pay to the order of EMET Capital Partners, LLC and its authorized successors and Permitted Assigns, defined below, (“Holder”), the aggregate principal face amount of Three Thousand One Hundred Twenty Eight Dollars and Seventy Nine Cents exactly (U.S. $3,128.79) on February 12, 2020 (“Maturity Date”)

From Section 10.2 - (U.S. $15,439.93) on February 12, 2020 (“Maturity Date”)

...and finally From Section 10.3 - (U.S. $7,018.15) on February 12, 2020 (“Maturity Date”)

If GCAN is generating any revenue in Q4 2019, Aitan should be able to show revenue enough to cover $25,500 debt due to EMET by February 12, 2020.

If GCAN fails to come up with this money by February 12, 2020, dilution begins.


It gets really ugly later in 2020.

From Section 10.5 - ($451,504.95) on October 18, 2020 (the “Maturity Date”)

From Section 10.6 - ($112,876.28) on October 18, 2020 (the “Maturity Date”)

From Section 10.7 - ($99,331.13) on October 18, 2020 (the “Maturity Date”)

...and finally From Section 10.8 - ($11,287.65) on October 18, 2020 (the “Maturity Date”)

$680,000 is a tremendous amount of money Aitan needs to come up with on October 18, 2020. If GCAN has clear revenue streams in place soon, and expands on them as 2020 progresses, this is not unreasonable.

I'm looking for Aitan to come through with revenues, and a path to pay off the EMET note's February 12, and October 18, 2020 obligations.

Lets hope for a Merry Christmas for all of us this year!!!