JSJ Investments, Inc. entered into a convertible promissory note with the Company dated May 25, 2014 (“JSJ Note”). Currently, according to the JSJ’s Conversion Notice dated January 20, 2015, the principal balance of the JSJ Note is $76,256.21 with $6,016.93 in accrued interest. The JSJ Note provides for a conversion rate of a 45% discount of the average of the 3 lowest trades in the last 20 trading days prior to the conversion. The Conversion Notice converts $18,621.49 of the JSJ Note. The conversion share price is $0.001118 (45% discount of $0.00203). The total number of common shares to be issued as a result of this conversion is 16,651,113. The Conversion Notice and Board Resolution authorizing the conversion are attached as Exhibits hereto.
The rest of that note is due tiger....the company can say whatever they want to the 8k tells the truth and the rest of this note can convert when ever JSJ wants and then they company must 8k that
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