Replies to post #4957 on Wowio Inc. (WWIO)

[OTC Knight]

Market was red everywhere today. Tomorrow can be nice green day here

[ArchiH]

Boooom, as in DUMPING and DILUTION, and 200M in note conversions over the past two days??

All is VERY CLEAR in the 8-K;
- One man show with Estareja getting 300k annually on 25K of Annual Sales Revenues + BOD (Altounian) is getting 180K. So that's 480k of salaries on 25K of Annual Revenue...

On September 15, 2015, the Company entered into an employment agreement with Mr. Robert Estareja as Chief Executive Officer, which expires in September 2017, with an automatic renewal period of two years unless otherwise terminated. The employment agreement requires annual base salary payments of $300,000 per year.

On September 15, 2015, the Company entered into an employment agreement with Mr. Brian Altounian as Executive, which expires in September 2017, with an automatic renewal period of two years unless otherwise terminated. Mr. Altounian will serve as the chairman of the Board of Directors of the Company and provide advisory services to the CEO. The employment agreement requires annual base salary payments of $180,000 per year

Only way "people get paid" is NOTES and there's a bundle of them:

Secured convertible note, 12% interest rate, entered into on January 7, 2015, due on demand, 22% default interest rate, net of debt discount of $0 69,908 —
Secured convertible note, 0% interest rate, entered into on February 19, 2015, due on demand, net of debt discount of $0 2,500 —
Secured convertible note, 8% interest rate, entered into on February 4, 2015, due on demand, net of debt discount of $8,134 8,507 —
Secured convertible note, 12% interest rate, entered into on February 20, 2015, due on demand, net of debt discount of $0 45,750 —
Secured convertible note, 12% interest rate, entered into on March 16, 2015, due on demand, net of debt discount of $0 45,750 —
Secured convertible note, 12% interest rate, entered into on March 16, 2015, due on demand 376 —
Secured convertible note, 10% interest rate, entered into on April 20, 2015, due on demand 43,591 —
Secured convertible note, 12% interest rate, entered into on April 20, 2015, due on demand, net of debt discount of $0 70,500 —
Secured convertible note, 12% interest rate, entered into on May 1, 2015, due on demand, net of debt discount of $2,778 23,722 —
Secured convertible note, 8% interest rate, entered into on May 16, 2015, due May 16, 2016, net of debt discount of $1,563 4,938

Oh, and then there's LEGAL PROCEEDINGS:

On March 18, 2016, CBK Consultants, Inc. (“CBK”) filed a Notice of Motion for Summary Judgment in Lieu of Compliant against us (CBK Consultants, Inc. a/k/a CBK, Inc. v. Wowio, Inc., Supreme Court of the State of New York, County of Nassau), seeking the repayment of $450,000 of principal from a promissory note we given CBK along with $20,000 of interest along with costs and attorney fees.

[Serge521]

BOOOOM!!!

What was that sound??