Convertibles and the share increase
If you've held on this long, who cares about any more bad news. So here you go...
We need 1 of 2 things in the next 2 weeks, I would say if you want an exact date by Friday March 13th. We need to see growing revenue from the p2p, or outside funding. If neither is present, let me show you how it looks.
The lowest closing share price we've seen in the last 20 days is $.015, keep this in mind.
Every note I'm listing here will convert at 60%-65% of $.015, or worse if we have a lower closing price. For now lets say 60% or $.009.
Here is your upcoming list: (shares when converted)
2-24 $110,000 (12,222,222)
2-27 $82,500 (9,166,666)
3-3 $82,500 (9,166,666)
3-3 $82,500 (9,166,666)
3-3 $82,500 (9,166,666)
3-13 $395,000 only $167,750 converts on this date (18,638,888)
3-16 $200,000 (22,222,222)
2-24 $149,453 (16,605,888)
That's 106,355,884 shares in the next 30 days.
If the share price goes below $.01, both of the big notes will be allowed to convert at 40% instead of 60%. Not to mention the penalties that kick in as well.
The big notes also carry the largest required reserve shares, 10X the number of shares needed to fully convert the note. So for the $395,000 note, KPAY needs to have 43,888,888 shares in reserve at all times just for this note.
So whoever is buying all these shares every day, keep up the good work. At todays price you'll need about $1.7 million more dollars to absorb what's coming.
