Replies to post #30717 on Mexus Gold US (MXSG)

[gitreal]

Another convertible note:

On June 11, 2019, the Company issued a Convertible Promissory Note (“Note”) to Power Up Lending Group Ltd. (“Holder”) in the original principal amount of $42,500 bearing a 12% annual interest rate and maturing April 15, 2020. After 170 days after the issued date, this Note together with any unpaid accrued interest is convertible into shares of common stock of the Company at the Holder’s option at a variable conversion price calculated at 65% of the market price defined as the average of the lowest two trading prices during the fifteen trading day period ending on the latest complete trading day prior to the conversion date. The Company may repay the Note if repaid within 30 days of date of issue at 110% of the original principal amount plus interest, between 31 days and 60 days at 115% of the original principal amount plus interest, between 61 days and 90 days at 120% of the original principal amount plus interest, between 91 days and 120 days at 125% of the original principal amount plus interest, between 121 days and 150 days at 130% of the original principal amount plus interest, and between 151 days and 170 days at 135% of the original principal amount plus interest.

[BonesJones]

180K a year, plus 2,000,000 shares/qtr.

I thought PT didn't take a salary?

Not a bad deal for the CEO of a 'company' that hasn't done jack for its shareholders.

With those numbers PT should be footing the bill for the big bash in Reno LOL

[rich2]

can one of the mods sticky this 10-k

This 10 k is very well written and gives a lot of good info the best 10-k to date/