Phoenix Rising Companies Inc (PRCX)

[DaReal]

Next Q's will show the truth...

NOTE 8 - CONVERTIBLE NOTE
During the three months ended March 31, 2020, the Company issued a total principal amount of $112,750 convertible note for cash proceeds of $90,000. The terms of convertible note are summarized as follows:

•Term: 10 months;
•Annual interest rates: 12%;
•Convertible at the option of the holders at any time;
•Conversion prices are based on discounted (35% - 50% discount) lowest trading prices of the Company’s shares during various periods prior to conversion.


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.

https://www.otcmarkets.com/filing/html?id=14154180&guid=mAk6UW2EGMXCxth

~40% discount of the share price a few weeks back... they bank big as usual aka toxic financing.

GL with your No Dilution...