Wow!! That had to have come after hours too because I know I checked before sending an email to the T/A and that was late afternoon.
So all the heavy dumping early in the week must have been in the thinking that dilution was coming and better prices would be available? Glad I picked up what I did.
The note was convertible Jan 12th, really no way around it 180 days is 180 days and it was issued July 16th 2019. 31 days in July, August, October, and December.
On July 16, 2019 the Company issued a promissory note (the “July 16, 2019 Note”) in the amount of $43,000 at which time the company received of $40,000 the remaining $3,000 was retained by the lender to cover legal and administrative cost. The proceeds were used to cover operational expenses. The July 16, 2019 Note bears interest at a rate of 10% per year, is payable on July 10, 2020, and is convertible into common stock 180 days after issuance. The conversion price is calculated as a 39% discount to the average of the two lowest trading prices during the 20 trading days prior to conversion. The balance of the July 16, 2019 Note, as of September 30, 2019 is $43,895, which includes $895 of accrued interest.
Another fact that supports the 180 day conversion date is the payable date of July 10 2020 which is 360 days from the date of issuance and not a year from it.
Looks to me like it may have been settled but I guess it's still a little early.
There has been some increased revenue with picking up Starr Insurance in October on a year contract so more funds would be available.
I don't know but I take this as a very good sign until proven otherwise.
The first closing on the Reg A+ is December 30th if go by the qualifying date and their stated intention of monthly closings though the offing is running through Dec 27th 2020 so maybe earlier. Legally they can close as many times and as soon as they want but each closing has to be disclosed.
This is going to be a fun one, not a doubt in my mind.
CLWD!!
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