Granted, $34k may not be that much, but with a current stock price hovering around .0005 it's going to require a lot of dilution for them to pay back a $34k loan. We are talking something in the neighborhood of around 140m shares at current prices.
*40% discount off of the lowest intra-day trading price for the last 10 trading days was .0004. 140m shares x .00024 = $33.6k.
1.2 *Conversion Price .
(a)Calculation of Conversion Price . Holder, at its discretion, shall have the right to convert this Note in its entirety or in part(s) into common stock of the Company valued at a forty percent (40%) discount off of the lowest intra-day trading price for the Company’s common stock during the ten (10) trading days immediately preceding a conversion date, as reported by Quotestream Media. http://www.otcmarkets.com/edgar/GetFilingHtml?FilingID=12388335
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