Replies to post #40936 on Microelectronics Technology Co. (fka MELY)

[delwcu]

yea I am going to scoop up a ton on Monday!

[DeltaWarrior]

Maybe one more big pullback, like this morning, before she is done with any and all conversions, but that is purely imo and I have no evidence to back that up. I would love it if you could get your shares so there are more strong hands with plenty of the float locked up. TURN THE LIGHTS ON MELY! Cannot wait!

MELY

[profithigh]

MELY DD, CURRENT AND FACT

MELY

OTC Pink Current Information

Revenue:

- 3 Month Period Ending 30 Sept 2014: $13,238 Compared to $3,846 from the same time frame the previous year

-Net Loss = (-$662,571) Compared to (-$109,566) from the same time frame the previous year

Authorized and Outstanding Share Structure:

Total A/S as of 30 Sept 2014 = 7,500,000,000

Total O/S as of 30 Sept 2014 = 1,577,898,324

Subsequent Events Add: +80,634,217
Total O/S as of 17 Oct 2014: 1,658,532,541

Total Preferred Authorized = 50,000,000

Total Preferred Outstanding = 110,000

Total Float = O/S - Preferred Oustanding = 1,658,422,541 as of 17 Oct 2014

Avg Volume (50 day Period) = 129,593,017


Recent, Current, and Future Convertible Notes:

Note: There are Convertible Notes that are Currently Unrestricted NOT shown below. This is because there is no way to know when or if the Notes will be or have been converted.

LG Capital Funding, LLC

On June 12, 2014, the Company executed an Unsecured Promissory Note to LG Capital Funding, LLC.  Under the terms of the note, the Company has borrowed a total of $40,000, which accrues interest at an annual rate of 8% and has a maturity date of June 12, 2015.  The note also contains customary events of default.   During the three months endedSeptember 30, 2014, the Company accrued $807 (three months ended September 30, 2013 - $0) in interest expense.

After 180 days from issuance, the note may be converted at the option of the holder into common stock of the Company.  The conversion price is 55% of the market price, where market price is defined as “the lowest closing bid price on the OTCBB for the ten prior trading days including the day upon which a Notice of Conversion is received by the Company.”

As of September 30, 2014, principal balance of $40,000 (September 30, 2013 - $0), accrued interest of $964 (September 30, 2013 - $0), debt discount of $0 (September 30, 2013 - $0) and a derivative liability of $0 (September 30, 2013 - $0) was recorded.

Note Convertible: 09 Dec 2014 if counting 180 days from issue including weekends and holidays (Should have already of been converted)



Classic Capital Note #3

On June 30, 2014, the Company issued a convertible promissory note to Classic Capital Inc.  Under the terms of the note, the Company has borrowed a total of $50,000 from Classic Capital Inc., which accrues interest at an annual rate of 8% and has a maturity date of June 30, 2015.  The note also contains customary events of default.  During the three months endedSeptember 30, 2014, the Company accrued $1,008 (three months ended September 30, 2013 - $0) in interest expense.

After 180 days from issuance, the note may be converted at the option of the holder into common stock of the Company.  The conversion price is 70% of the market price, where market price is defined as “the lowest closing bid price on the OTCBB for any of the fifteen trading days including the day upon which a Notice of Conversion is received by the Company.”

As of September 30, 2014, principal balance of $50,000 (September 30, 2013 - $0), accrued interest of $1,008 (September 30, 2013 - $0), a debt discount of $0 (September 30, 2013 - $0) and a derivative liability of $0 (September 30, 2013 - $0) was recorded.

Note Convertible: 27 Dec 2014 if counting 180 days from issue, including weekends and holidays (Should have already been converted)


KBM Worldwide Note #2

On July 15, 2014, the Company issued a convertible promissory note to KBM Worldwide, Inc.  Under the terms of the note, the Company has borrowed a total of $32,500 from KBM Worldwide, Inc., which accrues interest at an annual rate of 8% and has a maturity date of April 17, 2015.  The note also contains customary events of default.  During the three months ended September 30, 2014, the Company accrued $548 (three months ended September 30, 2013 - $0) in interest expense.

After 180 days from issuance, the note may be converted at the option of the holder into common stock of the Company.  The conversion price is 58% of the market price, where market price is defined as “the average of the lowest three trading prices during the ten trading days prior to the conversion date.”

As of September 30, 2014, principal balance of $32,500 (September 30, 2013 - $0), accrued interest of $548 (September 30, 2013 - $0), debt discount of $0 (September 30, 2013 - $0) and a derivative liability of $0 (September 30, 2013 - $0) was recorded

Note Convertible Date: 11 Jan 2015 if counting 180 days including weekends and holidays

Union Capital Note #4

On July 18, 2014, the Company executed an Unsecured Promissory Note to Union Capital, LLC.  Under the terms of the note, the Company has borrowed a total of $110,000, which accrues interest at an annual rate of 8% and has a maturity date of July 18, 2015.  The note also contains customary events of default.   During the three months ended September 30, 2014, the Company accrued $1,784 (three months ended September 30, 2013 - $0) in interest expense.

After 180 days from issuance, the note may be converted at the option of the holder into common stock of the Company.  The conversion price is 60% of the market price, where market price is defined as “the lowest closing bid price on the OTCBB for the ten prior trading days including the day upon which a Notice of Conversion is received by the Company.”

As of September 30, 2014, principal balance of $110,000 (September 30, 2013 - $0), accrued interest of $1,784 (September 30, 2013 - $0), debt discount of $0 (September 30, 2013 - $0) and a derivative liability of $0 (September 30, 2013 - $0) was recorded

Note Convertible Date: 14 Jan 2015 if counting 180 days including weekends and holidays


LG Capital Funding

On September 17, 2014, the Company executed an Unsecured Promissory Note to LG Capital Funding, LLC.  Under the terms of the note, the Company has borrowed a total of $55,000, which accrues interest at an annual rate of 8% and has a maturity date of September 17, 2015.  The note also contains customary events of default.   During the three months endedSeptember 30, 2014, the Company accrued $157 (three months ended September 30, 2013 - $0) in interest expense.

After 180 days from issuance, the note may be converted at the option of the holder into common stock of the Company.  The conversion price is 55% of the market price, where market price is defined as “the lowest closing bid price on the OTCBB for the ten prior trading days including the day upon which a Notice of Conversion is received by the Company.”

As of September 30, 2014, principal balance of $55,000 (September 30, 2013 - $0), accrued interest of $157 (September 30, 2013 - $0), debt discount of $0 (September 30, 2013 - $0) and a derivative liability of $0 (September 30, 2013 - $0) was recorded.

Note Convertible Date: 16 March 2015 if counting 180 days including weekends and holidays


Link to all information: MELY 10Q/A

Always do your own DD and NEVER trade on anyone elses comments or DD about the company you want to invest in.