ABCO Energy Inc. (ABCE)

[NewBornTrade]

Peeps should read the last 10-Q they've actually been paying multiple notes with cash to prevent notes from converting. They might be diluting a ton but I do think this company is legit. http://abcoenergy.com
Website is great .. They've got links to all the latest SEC fillings.. After doing my DD people are freaking out. Last RS they did was 1:20 and previously 1:10 so nothing like 1:2000 lol... Revenues of 2019 weren't strong but they've acquired another company making profit and the costs of operations have come down also.. Anyhow GLTA

From 10-Q The Company issued to Power Up Lending Group, Inc. [“Power Up”], a $68,000 Convertible Promissory Note dated February 16, 2019 [“Note”] which contains an original issue discount of $10,000.00 (OID) and expenses of $3,000.00 [“Note”]. The Note is convertible into Company common stock beginning six months after the date of the Note with an effective discount rate of approximately 20 % upon conversion. Without the OID, the effective discount rate would be 35% as set forth in the Note. The net proceeds from the Note, combined with Company working capital in the amount of $51,145, was used to redeem the February 22, 2019 acquisition above in the amount of $106,145. On August 19, 2019, the Company redeemed this note prior to it becoming convertible.

The Company issued to Power Up Lending Group, Inc. a $68,000 Convertible Promissory Note dated March 13, 2019 which contains an original issue discount of $10,000.00 (OID) and expenses of $3,000.00 [“Note”]. The Note is convertible into Company common stock beginning six months after the date of the Note with a stated discount rate of 19% as set forth in the Note. Without the OID, the effective discount would have been 35%. The net proceeds from this Note were used for working capital. On September 11, 2019 the Company redeemed this note prior to it becoming convertible.

Effective August 8, 2019 the Company entered into a Future Receivable Sale Agreement with Knight Capital Funding in the amount of $105,000 in order to fund a redemption of the Redstart Series C Preferred Stock. The agreement calls for 176 daily payments of $823.30 to retire this note in the amount of $144,900 representing principal and discount of collection of future receivables. The Company’s decision to redeem the Preferred shares was primarily to prevent the conversion of this note from diluting the common shares in 2019.