Replies to post #26627 on STL Marketing Group, Inc. (fka STLK)

[Snizzle]

I already did, but here you go again ~


Hey Rich or anyone , have a question in regards to specific toxic notes in stlk's latest filing. someone on the stlk board insists these are not to worry about as they are all held by the board of directors. I say they are and will continue to hit the market in freshly printed shares. Any thoughts would be appreciated.

Quote:
Note 8 – Convertible Notes Payable

(A) Convertible Notes Payable

At June 30, 2014 and December 31, 2013, convertible debt consisted of the following:

June 30, 2014 December 31, 2013
Convertible into 50% of the average of the lowest three closing prices during the 20 trading days immediately preceding conversion. These notes matured in July 2008 ($75,000), November 2008 ($100,000) and February 2010 ($15,000). These notes bear an interest rate of 8%-10%. These notes were acquired in the merger and are currently in default. $ 190,000 $ 190,000

Convertible into 50% of the five day average closing bid prices immediately preceding conversion. This note matured in July 2008. This note has an interest rate of 8%. This note was acquired in the merger and is currently in default. 50,000 50,000

Convertible into 10% of the average of the lowest three closing prices during the 20 trading days immediately preceding conversion. This note matured in March 2008 and bears a 6% interest rate. This note was acquired in the merger and is currently in default. 40,000 40,000

Convertible into 75% of the average of the lowest three closing prices during the 20 trading days immediately preceding conversion. These notes matured in May and June of 2010 and bear an 8% interest rate. These notes were acquired in the merger and are currently in default. 25,000 25,000

Convertible into 50% of the average of the lowest three closing prices during the 10 trading days immediately preceding conversion. Notes mature in July 2013 – May 2014 and bear an 8% interest rate. These notes are currently in default. 492,000 492,000

Convertible into 60% of the lowest of any day during the 10 trading days immediately preceding conversion. Note matures in September 2014 and bears a 9.9% interest rate. 27,500 27,500

Convertible at the greater (a) $0.015 or (b) at 50% of the lowest closing bid price during the 30 trading days immediately preceding conversion. This note bears a 10% interest rate and is currently in default. 25,000 25,000

Convertible at a 42% discount of the lowest three closing prices during the 15 trading days immediately preceding conversion. Note matures in August 2014 and bears an 8% interest rate. As of June 30, 2014, this note has been converted in full. - 32,500

Convertible at a 42% discount of the lowest three closing prices during the 15 trading days immediately preceding conversion. Note matures in October 2014 and bears an 8% interest rate. 42,500 -

Convertible at a 42% discount of the lowest three closing prices during the 15 trading days immediately preceding conversion. Note matures in December 2014 and bears an 8% interest rate. 32,500 -

Convertible at a 50% discount of the lowest of any day during the 15 trading days immediately preceding conversion. Note matures in March 2015 and bears an 8% interest rate. 21,500 -

Convertible at a 50% of the lowest closing bid price during the 30 trading days immediately preceding conversion. Note matures in September 2014 and bears a 10% interest rate. 25,000 -

Convertible at the lessor of (a) $0.004 or (b) at 40% discount of the lowest trade price during the 25 trading days immediately preceding conversion. Note matures in May 2016 and bears a one time interest charge of 12% after ninety days (August 2014).
25,000 -

Convertible at a 42% discount of the lowest three closing prices during the 15 trading days immediately preceding conversion. Note matures in March 2015 and bears an 8% interest rate. 32,500 -

Convertible at a 42% discount of the lowest three closing prices during the 15 trading days immediately preceding conversion. Note matures in March 2015 and bears an 8% interest rate. 32,500 -
$ 1,061,000 $ 882,000


http://www.otcmarkets.com/edgar/GetFilingHtml?FilingID=10163704

[Snizzle]

Edit: so your stating that The convertible notes in excess of 1,000,000 dollars are being converted into common shares as the applicable date comes around by company officials?


That's incorrect, as these aren't held by the BOD, but I'll humor you for a minute>>>> your stating that these aren't third party and they are the board of directors holding and converting these notes into common shares.

although that's not true, that scenario would be unheard of and despicable on the part of the BOD.


Thank goodness, wherever that rumor started, it's a complete LIE.