Kiwa Bio-Tech Products Group Corp (fka KWBT)

[jwblue74]

I'm calculating another 10M shares (worst case scenario) to be added to the O/S to eliminate all the remaining convertible debt. That would put the O/S at 213M. Here is what I came up with from the last Quarterly Report (10Q) filed.

O/S = 203,433,103 as of 02/21/2020.

O/S = 19,891,517 as of 09/30/2019.

Convertible debt = $2,352,977 as of 09/30/2019.

O/S issued since 09/30/2019 = 183,541,586.

Convertible debt issued at 52-week low of PPS .0175 with the conversion price equal to 70% of the lowest trading price during the 20 trading day period prior to the date of any notice of conversion (30% discount). PPS conversion would be .01225 (worst case scenario).

183,541,586 shares x .01225 = $2,248,384.

Total Convertible debt of $2,352,977 - $2,248,384 = $104,593 remaining.

10M more shares issued x .01225 = $122,500.

$2,248,384 + $122,500 = $2,370,884.

$2,370,884 - $2,352,977 = $17,907 (All Convertible debt paid).

So, worst case scenario should be another 10M shares issued which would put the O/S at 213M at the end of next week. This last tranche could have been the last and the O/S remains at 203M since I calculated the PPS conversion rate for all notes at the 52-week low which shouldn't be the case.

$KWBT