KBM Worldwide, Inc. provides information and investor awareness for publicly traded companies on stock exchanges in the United States for subscribers and users via Website. The company offers audio interviews, company background information, news links, as well as transcript of the interviews for companies on the OTCBB, NASDAQ, Pink Sheets, and AMEX. The company is based in Great Neck, New York.
The way I discribe Kramers business is he gets highly discounted shares in convertible note and then hires stock promoters like Laura Big Nose who sheild Kramer from disclosing then Big Nose pays touting news letters to lie about and hype the companies stock he has highly discounted stock in while he dumps his highly discounted stock in the market for instant riches.
The SEC lets him Kramer get away with it as the SEC just look the other way as they have done in so many penny stock scams.
On May 5, 2014, the Company issued a convertible promissory note to KBM Worldwide Inc., an affiliate of Asher, for proceeds of $38,900 (the “KBM Note”). The note is convertible to the Company’s common stock at a conversion price equal to the greater of (1) 53% multiplied by the average of the lowest three trading days for the Company’s common stock during the 10 day trading period ending on the latest completed trading day prior to the conversion date and (2) a fixed conversion price of $0.00005 per share. The Company analyzed the KBM Note for derivative accounting consideration and determined that the conversion feature of these notes qualify for accounting treatment as a financial derivative. The conversion feature of the note was valued at $32,046 on the issuance date. During the six months ended June 30, 2014, the Company recognized $6,098 of interest expense related to the amortization of the debt discount on the KBM notes. At June 30, 2014, there was $25,948 of unamortized discount related to the unconverted KBM notes with a total principal balance of $38,900.
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