When I read the 10q I find $498,000 in toxic notes to redwood alone. That is over 1 billion shares to convert if the stock can stay at .001. How on earth could a pos like this stay above .001 with all the selling that is to come??
Convertible Notes Payable
Assignment of Creditor Note and accrued interest:
$284,560
Proceeds received from Creditor #2:
$250,000
Conversion of a portion of Creditor 2s Note to common stock:
11,031,476 common shares issued) (35,765)
Creditor #2’s Notes, principal balance as of May 31, 2014:
$498,795
The Creditor #2 Notes bears interest per annum at 10.0%, payable six months after the issuance date and is convertible on the date of issuance based upon based upon a 45% discount to lowest trading price, for the 15 trading days prior to conversion.
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