Monday, May 18, 2020 5:55:41 AM
On November 21, 2019, the Company issued a Convertible Promissory Note (“Note”) to Crown Bridge Partners, LLC (“Holder”) in the original principal amount of $27,500 less transaction costs of $3,250 bearing a 12% annual interest rate and maturing November 21, 2020 for $24,250 in cash. Convertible May 19, 2020.
At 12% interest per annum, the rate for 6 months - November to May - would be 6%.
$24250*1.06 = $25705
That doesn't look like 145% to me. Please explain.
Dino
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