HAVE A LOOK at this table...these are JUST the convertible notes to redwood and partners..Conman still has more to other small groups...how quickly can you say 10 biiillliiioooonnnn issued and outstanding...wont take these groups long to pound the shares out because no matter what they still make money regardless what they dump the shares at....its a F&$^#% nightmare for shareholders at any level!
Exchange Agreements
In connection with the Agreement, the Investors have agreed to enter into exchange agreements whereby they will exchange outstanding promissory notes and Series B Preferred Stock for Series C Preferred Stock in the Company. A total of 9,250 Series B Preferred Stock and $7,661,784 due in connection with outstanding promissory notes will be exchange for Series C Preferred Stock. The table below details the original note amount and approximate amount due to each Investor.
Investor Original Amount Due
on Notes (number of
notes issued to
Investor) Approximate Balance Due to
Investor
Redwood Management, LLC $5,740,089 (5 notes) $ 4,489,794
Redwood Fund II, LLC $600,000 (4 notes) $ 660,000
Redwood Fund III, LLC $235,000 (3 notes) $ 254,000
Dominion Capital, LLC $3,339,490 (8 notes) $ 3,182,990
Total $ 8,586,784
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