This one will end up so bad even lubrication won't help you . 3 billion shares and counting . 12 mill in orders not sales then why put out a press release = Pump and Dump During the six month periods ended December 31, 2020 and 2019, we issued $268,236 and $0, respectively, in principal amount of new convertible notes (which we refer to as the “2020 Fixed Rate Convertible Notes”). As of December 31, 2020, a total of $618,236 (approximately $473,520 net of unamortized deferred loan costs of approximately $44,715 and unamortized beneficial conversion of $100,000) of 2020 Fixed Rate Convertible Notes were outstanding.
The 2020 Fixed Rate Convertible Notes accrue interest at 10% per annum, are convertible into shares of our common stock at a price of $0.005 per share, mature twelve months after issuance and are unsecured. The proceeds from the 2020 Fixed Rate Convertible Notes issued during the six month period ended December 31, 2020 were used to repay approximately $21,000 of obligations owed on the 2019 Variable Rate Convertible Notes (including principal amount, accrued interest and prepayment penalties) and for working capital purposes. When issued, the 2020 Fixed Rate Convertible Notes had an initial conversion rate below the trading price of the Company’s common stock creating a beneficial conversion feature (“BCF”), which exceeded the total cash proceeds received from its issuance. Accordingly, at June 30, 2020, we recorded the BCF as a debt discount and additional paid-in capital of $85,000. The debt discount is being amortized over the one-year term of the note.
When analyzing a balance sheet, you're likely to run across an entry under the shareholders’ equity section called treasury stock. The dollar amount of treasury stock recorded on the balance sheet refers to the cost of the shares a company has issued and subsequently reacquired, either through a share repurchase program or other means.
These shares may be re-issued in the future, unlike retired shares that no longer have value, and which the company removes from its balance sheet altogether.1?
What Happens to Repurchased Stock
Companies buy back their stock to boost their share price, among other objectives. When the company buys back its shares, it has a choice to either sit on those reacquired shares and later resell them to the public to raise cash, or use them in an acquisition to buy competitors or other businesses.2?
Alternately, the company could retire those shares and reduce the overall outstanding share count permanently, causing each remaining share to represent a greater percentage ownership stake in the firm for investors—including a bigger cut of the dividends and profits as calculated by basic and diluted EPS. 200 mill !! Ready to used for more games
Common Stock, par value of $0.001 per share, 2,000,000,000 authorized shares and 1,492,321,628 issued Boys and Girls think a Reverse stock Split is coming. 1-50
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