Kyn Capital Group Inc (KYNC)

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KYNC ; we don’t have $100 cash or check now and in the the near future but we can issue shares for $100 debt

Filed by kync Page 15 of 23 note7 -notes payable

“””In addition, the Company agreed to issue 50,000 shares of Common Stock of the Company for a cash payment of $100 by Jude Alfonso. The cash of $100 was received by the Company and Rule 144 restricted common share issued.”



at a rate of 6% per month. The unpaid principal and accrued interest was paid in full by issuing 15,000,000 Reg. A shares of the Company’s common stock on April 30, 2018. For the year ended December 31, 2018, the Company recorded interest expenses related to this Note in amount of $3,570. The accrued interest of $6,270 up to the payment date, April 30, 2018, was recorded as gain from debt forgiveness during the year ended December 31, 2018.
5. $12,000 due on January 31, 2018 with total interest of $2,000 deducted from the proceeds. The Note commenced on October 17, 2017. Pursuant to the Agreement, the unpaid principal after January 31, 2018 (the “Due Date”) should be accrued interest at a rate of 2% per month until paid. In addition, the Company agreed to issue the note holder 25,000 shares of Common Stock of the Company upon signing the Agreement, resulting in a debt discount of $5,000 in connection with this Note, which will be amortized over the life time of this Note starting from October 17, 2017. Accordingly, the Company recorded interest expense related to this Note in amount of $189 for the nine months ended September 30, 2019 and $2,644 for the