I keep posting the same stuff because there are new eyes every day and posters like yourself don't read the information correctly. Quit reading the PRs, or if you do verify with the filings. The two financing notes can convert from date issued according to the notes themselves. The 8K SEC links for the May and June financing is broken now for some reason but you can still see the Q2 filing. The Q2 filing language that I provide is a change and pushed the conversions to early November which is 180 days out for the first note. The 12 month maturity to May 2022 is when the default language kicks in. So given the 180 day delay they will have 6 months to convert that $780K at a steep discount to market with the price protections if the stock isn't trading above a penny. If you want to complain to someone I would reach out to the company and email what I am posting and ask why the SEC links are broken.
"On November 30, 2020, the Company entered into a Securities Purchase Agreement with Labrys pursuant to which the Company issued a convertible promissory note in the aggregate principal amount of $275,000.00 for net proceeds of $239,050.00 after an OID of 27,500.00 and legal and brokerage fees of $8,450.00. The note has a maturity date of November 30, 2021 and bears interest at 12% per annum...."
"On May 7, 2021, the Company, entered into a Securities Purchase Agreement with Labrys, pursuant to which the Company issued a Convertible Promissory Note in the aggregate principal amount of $550,000 for net proceeds of $477,700 after an original issue discount of $55,000 and certain legal expenses of $17,300. The Note has a maturity date of May 7, 2022 and bears interest at the rate of eleven percent per annum from the date on which the Note was issued until the same became due and payable, whether at maturity or upon acceleration or by prepayment or otherwise. The Company has the right to prepay the Note in terms of agreement. The outstanding principal amount of the Note was convertible at any time and from time to time at the election of Labrys during the period beginning on the date that is 180 days following the issue date into shares of the Company’s common stock at a conversion price equal to $0.005, subject to anti-dilution adjustments."
"On June 2, 2021, the Company, entered into a Securities Purchase Agreement with Labrys, pursuant to which the Company issued a Convertible Promissory Note in the aggregate principal amount of $230,000 for net proceeds of $200,000 after an original issue discount of $23,000 and certain legal expenses of $7,000. The Note has a maturity date of June 2, 2022 and bears interest at the rate of eleven percent per annum from the date on which the Note was issued until the same became due and payable, whether at maturity or upon acceleration or by prepayment or otherwise. The Company has the right to prepay the Note in terms of agreement. The outstanding principal amount of the Note was convertible at any time and from time to time at the election of Labrys during the period beginning on the date that is 180 days following the issue date into shares of the Company’s common stock at a conversion price equal to $0.004, subject to anti-dilution adjustments."
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.
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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