Replies to post #16100 on Ironclad Encryption Corp. (fka IRNC)

[Peeteman]

In reviewing 10q, looks like there are 2 back end notes that holder can convert to shares anytime 180 days after notes. 180 days is now. Company cannot pay them off in cash, only shares. Amounts of loans are $40,000 and $86,500. So even if cash flow has started they must pay off these two loans with shares. These two loans appear to be only ones with this provision.