This is what i got from the notes a few wks ago pertaining to Feb 28th Notes. Hopefully this helps guesstimate how close we are to the end of current notes until May 1st notes..
(1) The terms of $40,000 of this balance are similar to that of the Line of Credit which bears interest at adjustable rates, 1 month Libor plus 2%, 3.8% as ofSeptember 30, 2019, and is secured by assets of the Company, is due February 28, 2020, as amended, and included 8,000 stock options as part of the terms (seeNote 7).
During 2016, the Company acquired SDM which consideration included a convertible promissory note for $250,000 due February 28, 2020, as amended, does notbear interest, unless delinquent in which the interest is 12% per annum, and is convertible into common stock at $1.00 per share. The SDM balance is $186,881 asof September 30, 2019.
((MY reasoning) $40k w/ adjustable rates, 1 month libor rate( for Sept.30th 2019)= @ 2.08188% X 40k = $83,275.2. + Stock options $1,760 by Feb 28th @ 8,000 X's .22 (Highest Rate per Note 7)
SDM = $186,000 DUE BY FEB 28TH IF LATE @ 1.00 PER SHARE with 12% interest per Year = $22,320 on top of $186K Principal
(1 month Libor in sept 2019)of $40k @ 2.08188 = $83,275.2 plus 2% of $40k = $800 and 3% of 40k = $1200
$83,275.2 + $800 & $1200 @ 2% & 3% of $40,000
Stock Options 8000 * .22 (%) Per Note 7. Highest rate =$1760
SDM (San Diego Media) $186,881 + $22,320 interest per year @ 12%
Subsidiary Share Company Share Holder/lender - .02 * $101,244(EA 30 day Period AFTER FEB 28TH) = $2,024
More stock options = 85,120 * ( I'm Using Highest Rate again of .22 cents)per note 7 = $18,726
Grand Total Guesstimate for Feb 28th Notes So many looked over until now lol = $83,275.2 + $1,760 + $186,881 + $101,244 + $18,726 =
$391,886.2 not including interest other than 1 month libor not even sure if this is right formula hence guesstimate.. so roughly 400k is the magic number that needs to be paid since feb 26th for Dilution to be over with... I Hope we are complete.. I feel we are close if not.. but I'm sleepy lol GOODNIGHT. Been had these notes sorted out but decided
to put this Subscription to work thanks to CarJockey2. I have the rest of the notes that are due in my notepad as well... If I am wrong in adding the 1 month Libor then we can subtract $83,275 and substitute it with the regular principal of $40k but I think its part of the equation.. & initial repayment of the agreement.
TPTW!$!!$$$
