Some was paid off after Q3 ended and lots of the derivatives are part of the note conversions I believe. They also received $1 Mil after Q3 from their partner plus $500K. Also some notes were due in Feb. of 2018. Did they pay these off. Lot more here than meets the eye. Obviously their is value here but getting what has recently happened is limited and lots of guesswork. Usually deriavatives are stock conversions andnot debt.
In the fourth quarter 2017 the Company sold a 70% Membership Interest in its wholly owned subsidiary (MA & Associates, LLC) in consideration for retirement of approximately $1,000,000 in the Company's debt and approximately $500,000 in cash (of which $117,894 was funded as of September 30, 2017). The buyer also has an option to buy an additional 10%. The Company must open the lab by February 15, 2018 or it will be considered an event of default. The Company will account for their remaining 30% interest as an equity level investment going forward.
In February 2017, the Company entered into a convertible note agreement for a total of $63,800. The interest rate is 10% and the conversion terms are the lower of (a) $0.009 or (b) 45% of the lowest trading price during the 30 trading days prior to conversion. The maturity date is February 2018.
In March 2017, the Company entered into a convertible note agreement for a total of $33,000. The interest rate is 12% and the conversion terms are 65% of the average of the two lowest closing prices during the 15 trading days prior to conversion. The maturity date is December 2017.
In May 2017, the Company entered into two convertible note agreements for a total of $78,000. The interest rates range from 8% - 12% and the conversion terms are between 35% - 50% of the average of the two lowest closing prices during the 15 trading days prior to conversion. The maturity dates are February 2018.
In June 2017, the Company entered into a convertible note agreement for a total of $218,773. The interest rate is 12% and the conversion terms are 50% of the average of the two lowest closing prices during the 20 trading days prior to conversion. The maturity date is June 2018.
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