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bababooyah

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bababooyah

Re: None

Wednesday, 09/30/2020 9:19:58 PM

Wednesday, September 30, 2020 9:19:58 PM

Post# of 19526
Effective May 1, 2019, the lender amended the conversion price for all outstanding notes to a fixed price of $0.0003. As a result of this amendment, the Company determined that the present value of the cash flows of the outstanding debt were similar (less than 10%) to the present value of the cash flows of the new debt and therefore this amendment was accounted for as a debt modification, which had no effect for financial reporting purposes.
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