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Sunday, November 10, 2024 6:00:56 PM
O/S 621,832,121 as of March 31, 2024
https://www.otcmarkets.com/otcapi/company/financial-report/403837/content
Since March 31, 2024 the outstanding shares have increased by 185,065,655 representing a significant amount of dilution in the market. The company needs to clarify where these diluted shares are coming from. Based on my previous calculations, most of the new issuances from 2022 to June 2023 have already been converted, except for the convertible note issued to Trillium on 9/8/2022.
Trillium holds a convertible note with a principal amount of $505,000, maturing on 9/8/2023, plus 10% interest, bringing the total due to $550,000 for 2023, and an additional 10% for 2024, totaling $605,000. However, this amount doesn't match the $689,486 principal amount mentioned. Therefore, it's unclear where the additional funds are coming from.
According to the Schedule 13G, the term "principal" refers to the original amount of the debt, explaining the dilution we're seeing and why the stock price (PPS) hasn’t moved higher.
The chart shows a heavy sell-off starting in mid-May, with shares being converted at prices ranging from $0.015 to $0.002. Assuming an average conversion price of $0.004, 185 million shares diluted would represent about $740,000 in value, and at $0.005, it would be around $925,000. Based on these calculations, it shows we are nearing the final stage, possible the end of dilution related to the $689,486 principal amount, which is convertible into the company’s common stock, as outlined in the Schedule 13G.
https://www.otcmarkets.com/otcapi/company/financial-report/403837/content
Since March 31, 2024 the outstanding shares have increased by 185,065,655 representing a significant amount of dilution in the market. The company needs to clarify where these diluted shares are coming from. Based on my previous calculations, most of the new issuances from 2022 to June 2023 have already been converted, except for the convertible note issued to Trillium on 9/8/2022.
Trillium holds a convertible note with a principal amount of $505,000, maturing on 9/8/2023, plus 10% interest, bringing the total due to $550,000 for 2023, and an additional 10% for 2024, totaling $605,000. However, this amount doesn't match the $689,486 principal amount mentioned. Therefore, it's unclear where the additional funds are coming from.
According to the Schedule 13G, the term "principal" refers to the original amount of the debt, explaining the dilution we're seeing and why the stock price (PPS) hasn’t moved higher.
The chart shows a heavy sell-off starting in mid-May, with shares being converted at prices ranging from $0.015 to $0.002. Assuming an average conversion price of $0.004, 185 million shares diluted would represent about $740,000 in value, and at $0.005, it would be around $925,000. Based on these calculations, it shows we are nearing the final stage, possible the end of dilution related to the $689,486 principal amount, which is convertible into the company’s common stock, as outlined in the Schedule 13G.
