Replies to post #3492 on Giggles N'''''''''''''''' Hugs Inc. (fka GIGL)

[Keepinitsimple]

Can someone please explain the agreement with iconic this please. My understanding is that iconic are allowed to convert the money they are owed into shares at a reduced price until they have been paid back their money. At no point are they allowed to own more than 9.99% of the company while doing this. Once they have been paid in full the agreement ends. Am I in the ball park here? Thanks for your help!!!!

[1~Eye~Jack!!]

~ GIGL = .021 -0.0018 (-7.89%)LOD,,so,,farRr!! :-(

gogoyears

GIGL The wording on the agreement states that Iconic will always own 9.99% of the outstanding shares.Each 13g shows the increase current amount owned relative to the increase in AS due to company stock sales, so 9.99 × their 10,227,653 shares =an AS of 102,174,253 shares. We still have a reasonable AS but it is increasing by the amount that GIGL sells plus 9.99% for Iconic.