Replies to post #128897 on PCT Ltd (PCTL)

[MaxxPowerrr]

You LIKE that they paid, let's call it $350k, on a $100k note?

[namtae]

Yes indeed - exactly

PCTL Like this settlement> On August 18, 2020, the Company settled the $100,000 note described in Note 5(i). Pursuant to the settlement agreement, the Company will issue the lender 5,281,088 shares of common stock and pay the lender $140,000 in four monthly installments of $35,000 commencing August 19, 2020 and ending November 19, 2020.

Settling a note is much different than allowing the note holder to convert, which would drive the price down dramatically and causing the issuance of potentially an unlimited amount of shares

This settlement issued a fixed amount of shares

Thanks for reading this