Look. I am trying to be polite and walk you through this.
(C) CONDITIONS TO INVESTOR'S OBLIGATION TO PURCHASE THE PREFERRED STOCK. Notwithstanding anything to the contrary in this Agreement, the Company shall not be entitled to deliver a Put Notice and the Investor shall not be obligated to purchase Preferred Stock at a Closing (as defined in this Section 2) unless each of the following conditions are satisfied:
(I) that weighted average daily trading volume for the 30 days prior to the notice of Maximum Put Amount is at least $40,000 average daily volume, and that weighted average daily trading volume for the 30 days prior to the notice of Minimum Put Amount is at least $20,000 average daily volume;
(II) the closing bid price is not less than $.002 on any day for any three consecutive days during the 30 days prior to the notice of the Put Amount;
(III) the Investor shall have, in a private transaction, assumed at least Twenty Thousand Dollars ($20,000) with respect to the initial purchase, and thereafter Thirty Thousand Dollars ($30,000) of the Company’s debt thirty (30) days prior to the Put and the debt is converted into Shares and the Shares underlying the debt are delivered to the Holder’s account;
Now if you would stop being so stubborn you will see that in order for the company to be able to send a put to even have the bolded stuff you love to repost even come into play, the investor has to assume 50,000 worth of debt. This 50,000 will be converted into common stock immediately.
This is above and beyond the preferred stock which can be converted into common in the future.
