Seems you left out the 2 recent notes they took to pay off old delinquent debt. Let me correct your list so nobody is mislead.
So that totals just under $1.5 million in toxic debt due over the next 3 months plus 1 million more Warrant/Stock Options to be sold into the market. Noway this is going to end well for shareholders.
SAN DIEGO, CA / ACCESSWIRE / February 19, 2020 / TPT Global Tech, Inc. ("TPTG or the Company") (OTCQB:TPTW) announced today it has successfully paid off the remaining 43K convertible promissory note due August 22, 2019 issued by the Company to Geneva Roth Remark Holdings, Inc. ("Geneva Roth") located in New York City. Since March 15, 2019, the Company has issued five different convertible promissory notes to Geneva Roth for a total of $287,000, the first four of which totaled $244,000 were converted into 129,064,728 common shares of the Company. The remaining convertible note for $43,000 was paid off by paying $63,086, including the principal balance of $43,000, a 40% premium and accrued interest. The payment was made possible through a secured bridge loan of $90k provided by a third-party existing investor. The bridge loan is secured by the assets of the Company and is due June 14, 2020 or earlier in case the Company is successful in raising other monies and carries an annual interest charge of 10% payable with the principal.
Quote:SAN DIEGO, CA / ACCESSWIRE / March 2, 2020 / TPT Global Tech, Inc. ("TPTG or the Company") (OTCQB:TPTW) announced today it has successfully paid off the remaining balance of the convertible promissory note due June 6, 2020 issued by the Company to JSJ Investments Inc for $112,000 on June 6, 2019. ("JSJ"). The remaining balance paid included a premium and equaled $97,000, including accrued interest, which amounts were aside from the $43,680 in principal that was converted into 18,500,000 shares of the Company's common stock since June 6, 2019. The payoff was made possible due to a new merchant advance loan entered into by the Company with Advantage Funding for which the Company received $500,000 in cash proceeds on February 25, 2019 and is required to be repaid at a rate of $14,221 weekly for 50 equal payments for a total of $716,720.
During 2017, the Company issued convertible promissory notes in the amount of $67,000 (comprised of $62,000 from two related parties and $5,000 from a former officer of CDH), all which are due May 1, 2020[/b] and bear 6% annual interest (12% default interest rate). The convertible promissory notes are convertible,
as amended, at $0.25 per share.
On June 4, 2019, the Company consummated a Securities Purchase Agreement with Odyssey Capital Funding, LLC. (“Odyssey”) for the purchase of a $525,000 Convertible Promissory Note (“Odyssey Convertible Promissory Note”). The Odyssey Convertible Promissory Note is due June 3, 2020, pays interest at the rate of
12% ( 24% default) per annum and gives the holder the right from time to time, and at any time during the period beginning six months from the issuance date to convert all of the outstanding balance into common stock of the Company limited to 4.99% of the outstanding common stock of the Company. The conversion
price is 55% multiplied by the average of the two lowest trading prices for the common stock during the previous 20 trading days prior to the applicable conversion
date. The Odyssey Convertible Promissory Note may be prepaid in full at 125% to 145% up to 180 days from origination.
On June 11, 2019, the Company consummated a Securities Purchase Agreement with EMA Financial, LLC. (“EMA”) for the purchase of a $250,000 Convertible Promissory Note (“EMA Convertible Promissory Note”). The EMA Convertible Promissory Note is due June 11, 2020, pays interest at the rate of 12% (principal amount increases 200% and interest rate increases to 24% under default) per annum and gives the holder the right from time to time to convert all of the outstanding balance into common stock of the Company limited to 4.99% of the outstanding common stock of the Company. The conversion price is 55%
multiplied by the lowest traded price for the common stock during the previous 25 trading days prior to the applicable conversion date. The EMA Convertible Promissory Note may be prepaid in full at 135% to 150% up to 180 days from origination. 1,000,000 warrants were issued in conjunction with the issuance of this
debt. See Note 7.
$500,500 is a line of credit that Blue Collar has with a bank, bears interest at Prime plus 1.125%, 6.125% as of September 30, 2019, and is due March 25, 2021.
$500,000 is a bank loan dated May 28, 2019 which bears interest at Prime plus 6%, 11.0% as of September 30, 2019, is interest only for the first year, thereafter
payable monthly of principal and interest until the due date of May 1, 2022. The bank loan is collateralized by assets of the Company.
AI
