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Re: pinksheetbasher post# 450

Saturday, 03/21/2009 5:41:41 PM

Saturday, March 21, 2009 5:41:41 PM

Post# of 27507
Their filing came out...late as usual. They have some new debt, at some quite empressive interest I might add. Looks like the shareholders will have some new bills to pay. Notes in parentesis are mine You better be very careful, there will be shares hitting the market

4. NOTE PAYABLE TO CELLULAR CONNECTIONS LTD. (Stuart Turk...Metro One)

The $76,333 advance from Cellular Connection, Ltd. was a result of a convertible secured promissory note with a face amount of $120,000 issued to Cellular Connection Ltd. on January 20, 2009 which include one year of interest totaling $20,000 and actual loan amount totaling $100,000. The convertible secured promissory note accrues interest at a rate of 20% per year and has a maturity date of January 19, 2010. The outstanding face amount of the convertible secured promissory note shall increase by 20% on January 19, 2011, by another 20% on January 19, 2012 and again on each one year anniversary of January 19, 2012 until it has been paid in full. The note entitles the note holder to convert the note, plus accrued interest, anytime prior to the maturity date, at 75% of the average of the lowest closing bid price during the fifteen (15) trading days immediately preceding the conversion date.

The note has been accounted for as an original issue discount note due to the conversion feature. The discount totaling $40,000 shall be accreted over the life of the note for a total accreted value of $160,000.

Furthermore, the $20,000 interest which has been included as part of the overall face amount of the note shall also be accreted over a one year period. As of January 31, 2009, the total accretion of both discount and interest totaled $2,500. The remaining portion of the note not advanced totaling $23,667 was received by the Company in February 2009.

Pursuant to the terms of the convertible secured promissory note, Cellular Connection Ltd. may elect to secure a portion of our assets not to exceed 200% of the face amount of the note, including, but not limited to, accounts receivable, cash, marketable securities, equipment, building, land or inventory.
(200%, did you see that?)

As of January 31, 2009, we have $7,312 in advances from related parties, $78,833 of advances due from Cellular Connection Ltd. and $231,429 of advances due to Metro One Development, Inc. (formerly On The Go Healthcare, Inc.), payable on demand.

6
RESULTS OF OPERATIONS

COMPARISON OF RESULTS FOR THE SIX MONTHS ENDED JANUARY 31, 2009 AND 2008

Revenues: We did not record any revenues for the six months ended January 31, 2009, as compared to revenues of $15,251 for the six months ended January 31, 2008. The decrease in revenues was primarily the result of our entering a new product line.
( Zero revenue, hard to pay off that note that way )

Selling, General and Administrative Expenses: Our selling, general and administrative costs were $166,125 for the six months ended January 31, 2009, compared to $41,149 for the six months ended January 31, 2008. The increase in selling, general and administrative expenses was primarily the result of stock based expenses related to consulting services.
(So it cost them 166K + selling what you ask, Stock, to you)
(166 thousand selling expense to sell stock, I had to say it again)

ITEM 2. UNREGISTERED SALES OF EQUITY SECURITIES AND USE OF PROCEEDS.(There was a bit of dilution)

On October 2, 2008, we issued 500,000 shares of common
stock to Downshire at a price of $0.20 per share.

On October 2, 2008, we issued 10,000,000 shares of common stock to Michael Levine at a price of $0.20. Mr. Levine is our Chief Executive Officer.

During the period between October 14, 2008 and October 24, 2008, Metro One Development, Inc. converted $1,708,480 in principal and accrued interest under a promissory note into 15,200,000 shares of our common stock, at a conversion price of $0.1125 per share.

On December 8, 2008, Metro One Development, Inc. converted $37,500 in interest accrued under a promissory note into 1,000,000 shares of our common stock, at a conversion price of $0.0375 per share.

On December 22, 2008, Metro One Development, Inc. converted $12,000 in interest accrued under a promissory note into 800,000 shares of our common stock, at a conversion price of $0.0150 per share.
8

During the period between December 29, 2008 and January 9, 2009, Metro One Development, Inc. converted $195,000 in interest accrued under a promissory note into an aggregate of 26,000,000 shares of our common stock, all at a conversion price of $0.0075 per share.

(Here's the magic number I've been waiting for)

As of March 18, 2009, the Issuer had 64,250,000 shares of common stock issued and outstanding, par value $0.0001 per share.

(Only a double from the last quarter)

As of December 5, 2008 the Issuer had 36,450,000 shares of common stock issued and outstanding, par value $0.0001 per share.


(The pump is on, you may make some money If your quick)