so correct me if i am wrong but it acually appears these are the remaining notes outstanding totaling approx $413,903. 3/5 of these notes can convert at anytime, the other two remaining in 2014.
ASHER
1.) On July 1, 2013, the Company issued an 8% convertible note (the “July 1 Note”) in the amount of $100,000 to Asher. The principal and
accrued interest is payable on March 26, 2014 or such earlier date as defined in the agreement. The note is convertible by Asher at any time
after the six month anniversary of the issue date and by the Company at any time after issue with conversion periods as defined in the
agreement. The note is convertible into shares of the Company’s common stock at a price of 60% of the average of the three lowest trading
prices of the stock during the ten day trading period ending one day prior to the date of conversion. The outstanding balance at September 30,
2013 was $100,000.
*****COULD CONVERT ANYTIME AFTER 1/1/14
2.) On April 22, 2013, the Company issued an 8% convertible note (the “April 22 Note”) in the amount of $42,500 to Asher. The principal and
accrued interest is payable on January 25, 2014 or such earlier date as defined in the agreement. The note is convertible by Asher at any time
after the six month anniversary of the issue date and by the Company at any time after issue with conversion periods as defined in the
agreement. The note is convertible into shares of the Company’s common stock at a price of 60% of the average of the three lowest trading
prices of the stock during the ten day trading period ending one day prior to the date of conversion. The outstanding balance at September 30,
2013 was $42,500.
*******COULD CONVERT ANYTIME IMMEDIATELY
3.)On August 19, 2013, the Company issued an 8% convertible note (the “August 19 Note”) in the amount of $50,000 to Auctus Private Equity
Fund, LLC (“Auctus”). The principal and accrued interest is payable on or before May 19, 2014. The note is convertible by Auctus at any time
after the six month anniversary of the issue date and by the Company at any time after issue with conversion periods as defined in the
agreement. The note is convertible into shares of the Company’s common stock at a price of 62.5%of the average of the two days during the
ten day trading period prior to the date of conversion. At September 30, 2013, the balance due on the note was $50,000.
***********COULD CONVERT ANYTIME AFTER 2/19/14
Auctus
4.) On October 5, 2012, the Company issued an 8% convertible note (the “October 5 Note”) in the amount of $36,750 to Auctus. The principal
and accrued interest is payable on or before July 5, 2013. The note is convertible by Auctus at any time after the six month anniversary of the
issue date and by the Company at any time after issue with conversion periods as defined in the agreement. The note is convertible into shares
of the Company’s common stock at a price of 62.5%of the average of the two days during the ten day trading period prior to the date of
conversion. During the nine months ended September 30, 2013, principal of $26,510 was converted into 68,483,520 shares of common stock.
At September 30, 2013, the balance due on the note was $10,240.
********COULD CONVERT ANYTIME IMMEDIATLY
FIFE
5.) In December 2012, the Company entered into a $325,000 convertible note (the “December 12, 2012 Note #21”) consisting of three tranches to
be drawn down with the first tranche totaling $125,000, including $25,000 in loan costs and an additional two tranches totaling $200,000. The
note bears a 5% annual interest rate and matures eighteen months from the issuance. The note is convertible into common shares of the
Company based on 70% of the average of the 3 lowest closing prices of the common stock for the proceeding 15 consecutive trading days
immediately prior to the conversion. As of December 31, 2012, the Company only drew down the first tranche totaling $125,000. In 2013, the
Company advised the lender that they are terminating the agreement and will not be drawing down the remaining $200,000. However, on
February 11, 2013, April 5, 2013, April 23, 2013, and July 1, 2013, the Company drew down an additional $250,000. During the nine months
ended September 30, 2013, principal of $163,837 and accrued interest was converted into 303,582,579 shares of common stock. At September
30, 2013, the balance due on the note was $211,163.
*************COULD CONVERT IMMEDIATLY. THIS PARTICULAR NOTE WOULD HAVE A STRONG EFFECT ON THE PPS DUE TO THE AMT OUTSTANDING.
