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Wednesday, November 18, 2020 11:32:30 AM
Three Examples:
#1. Dr. Staelin loaned BIEL $100,000 on January 13, 2020. Accrued interest as of 9-30-2020 is $8,658. Annualized, that's nearly 20% interest. I'm glad that he didn't demand a conversion term at 50%, but man, that's a high-interest rate.
#2. Complete Business Solutions Group, Inc. loaned BIEL $25,400 on April 4, 2020, with accrued interest as of June 30, 2020, of $5,400. Over 20% interest for 75 days worth of borrowing?
#3........and we know the rest of the story, money loaned with conversion terms at 50% of the market price at issue date (loan issue date, not stock issue date).
All of my comments are based on my own due diligence and are only my opinion. Please conduct your own due diligence and research before deciding whether to buy or sell any stock. My posts are for entertainment only.
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