Replies to post #18016 on Endeavor IP, Inc. (fka ENIP)

[Huggy Bear]

I have read the last four quarterly filings on Edgar. In each instance the revenue is exceeded by the costs, and especially the SG&A costs as they eat up all revenue and then some. And executive salary is a substantial part of these costs.

Every quarter ENIP loses money despite the revenue, which is highly suspicious to me. Therefore they take out convertible debt notes to cover these shortfalls, of which a few are coming due quite shortly.

On January 16, 2015, the Company entered into an agreement for the issuance of a convertible note to a third party lender for $42,500. The note accrues interest at 8% per annum maturing on October 9, 2015. The notes are convertible into shares of common stock at a conversion price equal to approximately 58% of the average of the lowest 3 trading prices for the common stock during the 10 day trading period ending on the latest and complete trading day prior to the conversion. During the nine months ended July 31, 2015, the lender converted $3,640 of principal to 37,166,667 shares of Common Stock. Subsequent to July 31, 2015, the lender elected to convert $5,960 of principal into 99,333,332 shares of common stock.



On April 6, 2015, the Company entered into an agreement for the issuance of a convertible note to a third party lender for $38,000. The note accrues interest at 8% per annum maturing on January 9, 2016. The notes are convertible into shares of common stock at a conversion price equal to approximately 58% of the average of the lowest 3 trading prices for the common stock during the 10 day trading period ending on the latest and complete trading day prior to the conversion.

The first one is live actually, and being actively converted IMO.

The second one comes live in a few more weeks.

http://www.otcmarkets.com/edgar/GetFilingHtml?FilingID=10915509