See I told you they would be converted into shares!!!
You're all worked up about 90k due in Nov bearing 6% interest AND LOANED TO GREEN CURES BY GREEN CURES INC? LMFAO
Yeah that's a share selling scheme!
This was in response to the following post:
I-Glow Member Level Wednesday, 09/03/14 05:57:14 PM Re: None Post # of 200411 The convertible notes to Greens Cures is exactly how share selling schemes are setup to enrich insiders.
If you read the financials you would have seen the following:
NOTE 7 – NOTES PAYABLE
During the period ended June 30, 2014, Green Cures, Inc. (the controlling shareholder/related party) made two loans to the Company.
At June 30, 2014, the Company has a Note payable to Green Cures, Inc. for $46,116.16, plus interest at 7.5% per annum, accrued monthly, due on or before November 1, 2014.
At June 30, 2014, the Company has a Note payable to Green Cures, Inc. for $56,126.03, plus interest at 5% per annum, accrued monthly, due on or before November 1, 2014.
If you look at the due date it is 11/01/2014 - since we can see from the financials GRCU is using "Proceeds/payments-notes payable" to cover operating costs - we know that the notes will be in default as of 11/01/2014.
And the note is due in 4 months from the time it was issued.
When the note is in default - it will be converted into shares and a very favorable conversion rate. That is exactly how share selling schemes work. Insiders don't sell their shares it is always done via convertible notes - and it isn't listed as insider trading.