Replies to post #28371 on Artificial Intelligence Technology Solutions Inc (AITX)

[MMEX_MILLIONAIRE1]

TIMMMBBEERRRRR

[Huggy Bear]

sam, consider this passage with me.

In addition , the Company has issued other Convertible Debentures in March 2017 with a face value of $100,000 to an investor which would be convertible into shares of the Company Post-Merger. The Convertible Debentures bear interest at 10% per annum, payable in cash or shares, are unsecured and mature in three years.

For the Conversion Price, the debenture shall convert at a 40% discount to the 10 day average closing price immediately prior to the conversion date. The Debenture shall never convert at a conversion price higher than the Conversion Ceiling defined as follows:

$5,000,000 divided by the total number of common shares outstanding is equal to the Conversion Price.

During the six months ended June 30, 2017 and the period July 26, 2016 inception to December 31, 2016 the Company issued Convertible Debentures of $515,000 and $50,000, respectively. The balance of the amounts owed to the Convertible Debenture holders at June 30, 2017 and December 31, 2016 was $565,000 and $50,000, respectively.

The company here is, of course, RAD - not OMVS. As a private company at the time of the issue of these of these convertibles how can RAD debt holders legally convert under Rule 144?

RAD has only been publicly traded less than a week.

I fail to see how the legal holding period for this debt has been met and interested in your opinion on the specific matter.