Replies to post #1360 on Biostax Corp (BTAX)

[jaxstraw]

Since the maturity date is one day prior to the issuance date it appears Bespoke got 800,000 shares on the day of the signing......

No big guess who one of the parties may be that is diluting every day.

Bespoke Growth Partners Inc., issued April 15, 2014 for $150,000, with a maturity date of April 14, 2014, and bearing an interest rate of 5% annually. On the maturity date the lender, at its exclusive option, may elect to have the borrower satisfy the loan by issuing the lender 800,000 shares of the Company’s common stock. If at the maturity date, the average closing price of common stock is greater than $3.00 per share for the prior 30 days, the borrower may satisfy the loan by issuing the lender 400,000 shares of the Company’s common stock. If at any time during the term the average closing price of the common stock is greater than $5.00 per share for more than 30 days, the lender may demand immediate repayment of the loan by having the borrower issue the lender 400,000 shares of the Company’s common stock. The amount of the note was discounted by $150,000 for the value of a beneficial conversion feature, which was amortized by $25,000, netting to a $25,000 note balance as of June 30, 2014.