LOL, still a mystery who is dumping these new shares? Labrys fund has two notes worth $780K total, that convert for twice that amount, and convert from the day they were issued. How are day traders possibly making any money on this trading at .0018 and .0019 for weeks when the effective 52 week low is .0018.
637 million new shares added so far since March 31st, 2021... that we know of.
May 7th they signed onto financing for $550K with Labrys and that value was eligible to convert per the date of issue. According to the latest filing only $100K or 112 million shares have been issued with a conversion price of .0009 a share.
https://sec.report/Document/0001721868-21-000350/ On July 7, 2021, in terms of a conversion notice received by the company, Labrys converted the aggregate principal sum of $100,800 into 112,000,000 shares of common stock.
June 4th they signed onto financing for $230K with Labrys and that value was eligible to convert per the date of issue. "Conversion Rights" and adjustable "Conversion Price" language below.
Par Value for this note is .01 and conversion price is adjusted if the price of the common shares are trading below this value.
1.1 Conversion Right. The holder on any calendar day, at any time on or following the issue date, to convert all or any portion of the then outstanding and unpaid Principle Amount and interest (including any Default Interest) into fully paid and non-assessable shares of Common Stock. 10.02 Convertible Promissory Note dated May 7, 2021 (Labrys Note) 1.2 Conversion Price
(a) Calculation of Conversion Price The per share conversion price into which Principle Amount and interest (including any Default Interest) under this Note shall be convertible into Common Stock hereunder (the “Conversion Price”) shall equal $0.005. If at any time the Conversion Price as determined hereunder for any conversion would be less than par value of the common stock, then at the sole discretion of the Holder, the conversion price hereunder may equal such par value for such conversion and the Conversion Amount for such conversion may be increased to include Additional Principle, where “Additional Principle” means such additional amount to be added to the conversion amount to the extent necessary to cause the number of conversion shares issuable upon such conversion to equal the same number of conversion shares as would have been issued had the Conversion Price not been adjusted by the Holder to the par value price.
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