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Replies to post #41164 on Logiq Inc (LGIQ)
WarMachine
03/11/16 4:56 AM
#41167 RE: liable #41164
Elcappy1
03/18/16 1:14 AM
#41392 RE: liable #41164
23-Apr-2015 Entry into a Material Definitive Agreement Item 1.01 Entry into a Material Definitive Agreements. On multiple dates during the years of 2012 and 2013, Convertible Notes were issued to Asher Enterprises, Inc., KBM Worldwide, Inc. and Magna Asset Services, Inc. As of April 21, 2015, the convertible notes issued to Asher Enterprises Inc. and Magna Asset Services, Inc. were completely converted representing a zero balance outstanding. An agreement is in place to retire the KBM Worldwide, Inc. convertible note and is expected to complete by May 29, 2015.
The KBM debt that was left over, I personally paid them off for $106,000 which included principal, interest and penalties. This will be listed in the 10-K and is part of the $180k in CEO payables which was money used to clean up the company last year. Recently, I converted part of that into shares at .58 per share and will continue to do so instead of taking cash reimbursement.