NO ONE SIGNED UP FOR THIS BS..you are right.... No one knows who is cashing notes right now or if they even are..I would hope not this thing has been cashed so hard for months..if there’s more of this bs it would be absolutely insane..wht a fkn joke..can’t establish integrity w the trading not knowing from one gd damn day to the next what is happening with your investment lmao..it’s rediculous...block it out and hold on
Here is where I believe I can share some good news with you.
First, there is never a 100% sure way to know if the company will chose to use cash or equity to pay the loan until the day we see the shares get issued.. unless you're an insider, or the company makes the details public before the event happens.
Some loans may be cash only with no conversion option, and vice versa, depending on the type of loan.
In this instance, here is part of the statement from the company in Q3 10Q - Filed by company on November 16, 2020
"" On June 30, 2020, the Company entered into a loan agreement with Evernia whereby it had advanced Evernia $290,075.
The instalments commence on the earlier of; (i) December 31, 2020 and; (ii) the date that Evernia accumulates cash reserves of $200,000. The loan will remain in place until repaid in full. The repayment proceeds will be repaid directly to Leonite in reduction of the loan funds advanced by Leonite to the Company. ""
Read the following VERY carefully. We are in a loading zone..
This is the recent Labrys loan details..
" The Notice was an at-the-market conversion with a conversion price of $0.0028. The conversion is a one-time conversion that fully satisfies that balance of the Note in excess of $255,000. There was a total of 91,421,457 shares issued under the conversion. "
Mr. Leon added, “The one-time at-the-market conversion and new investment by Labrys was a show of confidence in the results of the restructuring transactions undertaken by the Company.”
" The previously announced term sheet for a new financing with Labrys Fund LP was concluded and the final warrants issued in conjunction with the financing were much more favorable to the Company. The final warrant was for 100,000,000 shares instead of 183,333,333 and the exercise price was $0.00205 "
Now, on to dilution. The following represents the maturity dates of future loans as of right now..
No loans are due for 6 months now.
Leonite - June 12, 2021 Auctus Fund - August 13, 2021 Geneva Roth - August 29, 2021 Ed Blasiak - September 14, 2021 Joshua Bauman - September 14, 2021 Geneva Roth - September 25, 2021 FirstFire Global - October 29, 2021 Labrys Fund - November 30, 2021