Phoenix Rising Companies Inc (PRCX)

[DaReal]

Why? -> Most likely Convertible Notes...

From their 10K:

Convertible Notes – Issued during the year ended December 31,2019

During the year ended December 31, 2019, the Company issued a total principal amount of $338,000 convertible notes for cash proceeds of $310,000. The convertible notes were also provided with a total of 112,500 warrants. The terms of convertible notes are summarized as follows:

• Term: 12 months - 18 months;
• Annual interest rates: 8% - 10%;
• Convertible at the option of the holders at any time or 180 days from issuance.
• Conversion prices are based on discounted (35% - 40% discount) lowest trading prices of the Company’s shares during various periods prior to conversion. Certain note has a fixed conversion price of $1.