Most of the Company's convertible notes payable contain adjustable conversion terms with significant discounts to market. As of June 30, 2015, the Company's convertible notes payable are convertible into an aggregate of approximately 1.7 billion shares of common stock. In addition, due to the variable conversion prices on some of the Company's convertible notes, the number of common shares issuable is dependent upon the traded price of the Company's common stock. As of June 30, 2015, if all holders of convertible notes payable exercised their right to the common stock, the outstanding shares of common stock of the Company would be in excess of its authorized shares of common stock.
Plain and simple reason (allbeit not a good one) for AS increase
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