Kiwa Bio-Tech Products Group Corp (fka KWBT)

[operating_line]

Is TFK note due in August missing from this list?

"On February 5, 2020, the Company executed a Securities Purchase Agreement (the “SPA”) between TFK Investments, LLC (“TFK”) and the Company, pursuant to which TFK purchased from the Company a Convertible Promissory Note in the principal amount of $375,000 (the “Note”) dated February 5, 2020. The Note carries an Original Issue Discount of $37,500, bears interest at the rate of 12% per annum and must be repaid on or before 180 calendar days after the funding date of the respective tranche (each a “Maturity Date”). The Note may be prepaid at any time before Maturity Date without any prepayment penalty. The Note may be prepaid at any time before Maturity Date without any prepayment penalty. The amounts advanced under the Note may be converted by Labrys at any time after 180 days from the date of the Note into shares of Company common stock at a 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. "

Can we say this note was used to remove EMA and Firstfire?

https://www.otcmarkets.com/filing/html?id=13918563&guid=036HUWSu_dUBF8h

If 565k were converted at 0.01 left from the Labrys note, is that about 53m shares diluted? With 200m shares converted in 2020 at some discounted price to market, it would seem more than enough to cover notes in default already. We need a PR to clarify where dilution on Friday is coming from.

I also wonder why they loan $2m for investing purposes at this critical time rather than prevent dilution. I must be missing the point.

Company value is at least 100m USD (PPS over 0.3 currently) with revenue of $48m expected this year. New facilities due for completion this year will accelerate revenues further.