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Monday, April 15, 2024 3:47:21 PM
Also noticed that the Q3 filing that was released at the end of November listed two new new notes issued in November The annual reveals that a total of five notes were issued last November. This brings the total of the short term to eleven. $175K of the original eight notes plus interest will have matured by May 1st. Two matured in December two more in February and the fifth due on May 1st. Take a look at all those free shares to be issued with these notes in particular the note dated November 13th. While it has a relatively low interest rate is was issued twice the free shares for a note of $25K relative to the others. This company has shares coming from all angles. Getting an idea why the pitchman CEO has been in so many infomercials since the beginning of the year. 😆
For the quarterly period ended September 30, 2023
https://www.sec.gov/ix?doc=/Archives/edgar/data/0001483646/000106594923000100/begi-20230930.htm
NOTE 10 – SUBSEQUENT EVENTS
In November 2023, the Company borrowed $50,000 and $25,000 from each of two unrelated individuals, repayable nine months from date of the notes with interest at 11% per annum. At maturity, the Company will repay the face amount of the loans in cash, including unpaid and accrued interest at 11% and, in addition, will issue 7,500,000 and 3,750,000 of the Company’s common stock, respectively, to each of the lenders. At maturity the lenders have the option to be issued, in lieu of cash payment of the outstanding debts, an additional 7,500,000 and 3,750,000 shares of the Company’s common stock, respectively, as full satisfaction of the principal loan amounts and related unpaid and accrued interest thereon.
For the fiscal year ended December 31, 2023
https://www.sec.gov/ix?doc=/Archives/edgar/data/0001483646/000106594924000044/begi-20231231.htm
NOTE 8 – NOTES PAYABLE (continued)
On November 6, 2023, the Company borrowed $50,000 and $25,000 from each of two unrelated individuals, repayable nine months from date of the notes with interest at 11% per annum. At maturity, the Company will repay the face amount of the loans in cash, including unpaid and accrued interest at 11% and, in addition, will issue 7,500,000 and 3,750,000 of the Company’s common stock, respectively, to each of the lenders. At maturity the lenders have the option to be issued, in lieu of cash payment of the outstanding debts, an additional 7,500,000 and 3,750,000 shares of the Company’s common stock, respectively, as full satisfaction of the principal loan amounts and related unpaid and accrued interest thereon. The Company has recorded the 11,250,000 common shares issued to the lender at $51,000, based on the $0.0045 closing trading price of the Company’s common stock as of the date of the loans.
On November 13, 2023, the Company borrowed $25,000 from an unrelated individual, repayable November 13, 2026 with interest at 5.5% per annum. At maturity, the Company will repay the face amount of the loans in cash, including unpaid and accrued interest at 5.5% and, in addition, issued 7,500,000 of the Company’s common stock, to the lender. At maturity the lender has the option to be issued, in lieu of cash payment of the outstanding debts, an additional 7,500,000 shares of the Company’s common stock as full satisfaction of the principal loan amounts and related unpaid and accrued interest thereon. The Company has recorded the 7,500,000 common shares issued to the lender at $40,500, based on the $0.0054 closing trading price of the Company’s common stock as of the date of the loan.
On November 17, 2023, the Company borrowed $50,000 and $25,000 from each of two unrelated individuals, repayable May 17, 2025 with interest at 5.5% per annum and August 17, 2024 with interest at 11% per annum, respectively. At maturity, the Company will repay the face amount of the loans in cash, including unpaid and accrued interest and, in addition, issued 7,500,000 and 3,750,000 of the Company’s common stock, respectively, to each of the lenders. At maturity the lenders have the option to be issued, in lieu of cash payment of the outstanding debts, an additional 7,500,000 and 3,750,000 shares of the Company’s common stock, respectively, as full satisfaction of the principal loan amounts and related unpaid and accrued interest thereon. The Company has recorded the 11,250,000 common shares issued to the lender at $86,063, based on the $0.00795 closing trading price of the Company’s common stock as of the date of the loans.
![Bearish](/static/images/ih2-bear.png)
Everything that I post is just my informed opinion and is simply an invitation to debate. Trade on your own due diligence please..
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