Especially with his imaginary products and imaginary usefulness. It doesn't take any special training, skills or talent to imagine things, almost anyone can do it.
Imagining something and applying for a patent on it, and even getting a patent on it, does not prove an idea's 'usefulness' to enough people to make it a financial success in the marketplace.
fiduciary failures at NEAH as pertains to the common shareholders as has been implied by others.
Can only wonder now what deal when through and at what terms..seems like sweetheart deals, at 60 % of the lowest price in twenty days..Tuesday May 16 th...
The given reason on the 8k notice to save money, writing reports...that should have been written by Mr. Mays...at $!!,000 per month.... hope the SEC does a through search ....of the on going saga of Neah Power... looks like they sold about 50% percent of the company to some one...???
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quote]The number of shares of Common Stock to be issued upon each conversion of this Note shall be determined by dividing the Conversion Amount by the Conversion Price on the date specified in the notice of conversion
kennypooh Monday, 05/15/17 03:40:54 PM Re: NPS2008 post# 23259 Post # 23260 of 23420 Go Friday was May 12!
Wonder if the funding was with the terms as bad as the terms given Union caital...
ShortonCash Monday, 09/05/16 10:08:47 PM Re: ShortonCash post# 19712 Post # 19908 of 23420 Go Who is behind Union Capital LLC? and the other large shareholders....
They completed the deal on their note...now that the trend down stopped.....
The note bears interest at the rate of 8% per annum on the unpaid principal balance. All interest and principal must be repaid on or prior to April 01, 2017. The note and interest are convertible into common stock at the price of sixty percent (60%) of the lowest trading price in the prior 20 trading days before conversion.
The Holder of the note shall have the right, from time to time, commencing upon the Issue Date to convert all or any part of the outstanding and unpaid principal amount of this Note into fully paid and non-assessable shares of Common Stock, as such Common Stock exists on the Issue Date, or any shares of capital stock or other securities of the Borrower into which such Common Stock shall hereafter be changed or reclassified at the conversion price. The number of shares of Common Stock to be issued upon each conversion of this Note shall be determined by dividing the Conversion Amount by the Conversion Price on the date specified in the notice of conversion.
The conversion price per share of Common Stock (the “Conversion Price”) shall be determined (on a pre-Qualified Financing basis) by: (i) calculating the percentage of the entire unpaid principal amount of this Note sought to be converted (the “Conversion Percentage”); (ii) multiplying the sum of Three Million (3,000,000.00) dollars by the Conversion Percentage (the “Conversion Value Amount”) ; (iii) then, multiplying the number of issued and outstanding Common Shares of the Company on the Conversion Date by the Conversion Percentage (the “Conversion Share Pool”), and; (iv) then, dividing the Conversion Value Amount by the Conversion Share Pool. In the event that the Borrower consummates a Qualified Financing at a pre-money valuation of less than Three Million (3,000,000.00) dollars, for the purposes of determining the Conversion Price, such pre-money valuation if lower than Three Million (3,000,000) dollars shall replace “Three Million (3,000,000.00) dollars” above. There was no beneficial conversion feature on these note