Replies to post #171463 on Green Cures and Botanical Distribution Inc (GRCU)

[I-Glow]

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.

IG