Dilution is coming : 1,910,862 of notes. at .01 that is another 191 mill shares of dilution , at .005 its 380 mill shares of dilution . At the rate of some of the " Interest Free Loans " its close to 750 mill shares of dilution.
As of March 31, 2020, we had cash of $99,246 compared with cash of $1,648 as of June 30, 2019. During the three month period ended March 31, 2020, we redeemed our certificate of deposit of $100,374 at June 30, 2019 and used the proceeds to repay the balance due on our line of credit.
During the nine months ended March 31, 2020, we issued in private offerings exempt from registration $1,078,862 of variable convertible notes (proceeds of approximately $960,000, net of financing costs). We also issued $832,000 of new fixed rate convertible notes (proceeds of approximately $797,000, net of financing costs). The proceeds from these debt financings were used to pay approximately $458,375, plus accrued interest and prepayment penalties, of variable interest convertible notes and provide working capital.
