Replies to post #17995 on Aja Cannafacturing Inc. (fka AJAC)

[rosati0413]

Here you go ....from the 10-K

Our outstanding loans with KBM are as follows:

Date Due Date Principal Amount
March 19, 2014 December 26, 2014 $53,000
May 20, 2014 February 20, 2015 $53,000
August 18, 2014 May 20, 2015 $53,000
Total $159,000

My question is ....WHERE DID THIS MONEY GO?

[I-Glow]

Hmmm, it doesn't look like you read the 10-K very closely - if you had you would see that a note from KBM Worldwide (the old Asher) is due February 20, 2015:

May 20, 2014 February 20, 2015 $53,000

It also states the following:

The conversion price under the Notes is a 49% discount to the average of the 3 lowest closing prices for our common stock on the 30 trading days immediately preceding the conversion dates

If the conversion was today the conversion price would be 0.000096.....

That leads to the conversion of $53,000 into 552,083,333 shares - now that is some nasty dilution.

Nothing. I repeat nothing happens on the 20th as claimed by others.

Read the 10-K again.

IG