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Re: None

Wednesday, 07/27/2022 10:43:27 AM

Wednesday, July 27, 2022 10:43:27 AM

Post# of 77462
Another debt question:
-Lender: R Holdings 9, Inc.
-Loan Date: 08/30/11
-Principle Amount: $251,962
-Amount Still Owed: $242,962
-INTEREST ACCRUED: $270,054

Shares issued for debt conversion:
-1/11/2017: 12,000,000
-5/20/2017: 20,000,000
-1/25/2018: 30,000,000
-1/24/2019: 90,000.000
--Total: 152,000,000 Shares issued, some when the stock price was in the pennies).

Question: How could only $9k of this loan be paid off, with all of the shares that were issued for debt conversion. Also, how could the accrued interest amount be greater than the original loan?