China Unlimited

[NewJerichoMan]

cost to bail these dummies at PCTL out?

As of June 30, 2020, they owed $980,254 on their convertible notes; $544,254 is in default and $436,000 is still within term.

Could the answer be less than $1,578,337?

Example 1:

During the period ended June 30, 2020, the Company was further assessed default penalties and interest on this convertible note - 5(i) - as the note reached maturity. Additional default and penalties were assessed in the amount of $118,295 of which $9,549 was recorded as a principal addition and $108,746 was recorded in accrued interest. to the note.

On August 18, 2020, the Company settled the $100,000 note described in Note 5(i). Pursuant to the settlement agreement, the Company will issue the lender 5,281,088 shares of common stock and pay the lender $140,000 in four monthly installments of $35,000 commencing August 19, 2020 and ending November 19, 2020.




$544,254 * 2.9 = $1,578,337.

$544,254 is much greater than it was previously. But cash on the barrel deserves a discount to a 2.9 multiplier, which features 60% equity in the payout.

Company can take care of their own mess with notes not in default yet.