YUP I CALLED IT AGAIN..
LOOK AT THE CONVERTIBLE NOTES PENNY SCAMMER CEO BOB TOOK OUT JUST THIS YEAR!!
WOW THIS GUY WILL CLEAN OUT EVERY SHAREHOLDER IF IT'S THE LAST THING HE WOULD DO
On February 10, 2020, the Company issued a convertible promissory note in the principal amount of $119,600. The note is unsecured, bears interest at 10% per annum, is due on February 10, 2021, and is convertible into common shares of the Company, beginning 180 days from the date of the note up to maturity or repayment, at a price equal to 80% of the average of the lowest two trading prices for the common stock during the fifteen trading days before conversion. Deferred financing fees and original issuance discount on the note were $22,135. The derivative liability applied as a discount on the note was $97,465 and is accreted over the life of the note.
As at March 31, 2020, the carrying value of the note was $16,384 (December 31, 2019 - $Nil) and the fair value of the derivative liability was $134,048 (December 31, 2019 - $Nil). During the three months ended March 31, 2020, the Company accreted $16,384 (2019 - $Nil), of the debt discount to finance costs.
(u) On March 2, 2020, the Company issued a convertible promissory note in the principal amount of $60,950. The note is unsecured, bears interest at 10% per annum, is due on March 2, 2021, and is convertible into common shares of the Company, beginning 180 days from the date of the note up to maturity or repayment, at a price equal to 80% of the average of the lowest two trading prices for the common stock during the fifteen trading days before conversion. Deferred financing fees and original issuance discount on the note were $10,950. The derivative liability applied as a discount on the note was $50,000 and is accreted over the life of the note.
As at March 31, 2020, the carrying value of the note was $4,843 (December 31, 2019 - $Nil) and the fair value of the derivative liability was $66,422 (December 31, 2019 - $Nil). During the three months ended March 31, 2020, the Company accreted $4,843 (2019 - $Nil), of the debt discount to finance costs.