Replies to post #8051 on Patten Energy Solutions Group Inc (PTTN)

[MOONSHOT]

Effective December 10, 2014, Integrated Energy Solutions, Inc. (the “ Company ”) closed a Credit Agreement (the “ Credit Agreement ”) by and among the Company, as borrower, Patten Energy Enterprises, Inc., AP Lubes, Inc. and Atlantic-Pacific, LLC as joint and several guarantors (such guarantors, collectively, the “ Subsidiaries ” and together with the Company, the “ Borrowers ”) and TCA Global Credit Master Fund, LP, a Cayman Islands limited partnership, as lender (“ TCA ”). Pursuant to the Credit Agreement, TCA agreed to loan the Company up to a maximum of $3 million for working capital and general operating expenses. An initial amount of $800,000 was funded by TCA at the closing of the Credit Agreement. Any increase in the amount extended to the Borrowers shall be at the discretion of TCA.

This is huge news! Loading at these levels for the imminent boom when company releases PR

[UserAlias1]

Yeah, with CONVERTIBLE-DEBT, DUE-IN SIX-MONTHS!, that can MASSIVELY-DILUTE...

The Revolving Note is in the original principal amount of $800,000, is due and payable, along with interest thereon, on June 10, 2015, and bears interest at the rate of 11% per annum, increasing to 18% upon the occurrence of an event of default, in addition to a monthly collections fee payable to TCA under the Credit Agreement.

TCA may convert all or any portion of the outstanding principal, accrued and unpaid interest, and any other sums due and payable under the Revolving Note into shares of the Company’s common stock at a conversion price equal to 85% of the lowest daily volume weighted average price of the Company’s common stock during the five trading days immediately prior to such applicable conversion date, in each case subject to TCA not being able to beneficially own more than 4.99% of our outstanding common stock upon any conversion.

As further consideration for TCA entering into and structuring the Credit Agreement, the Company shall pay to TCA an advisory fee by issuing to TCA three promissory notes each in the amount of $41,666.67 (the “Advisory Fee Notes”)

You really think IENG will pay the cash back within 6 months instead of just let the notes convert into shares? They DID just raise the A/S even higher... Look at how many shares $800K would convert into at 85% of .0001/share, 9.4 Billion shares at .000085/share.
Even $800K converted at 85% of .0002/share, would be 4.7 Billion shares at .00017/share

I think they could keep converting under 4.99% at a time, dumping the shares right away, then converting more again, then dumping, ect. ect. That's what I would do to get my cash back if I were (TCA).


IENG

[Elcappy1]

Super awesome 8k after hours! Weeeeeeeeeeee! IENG