Well lets see ... they delivered it via an email with an attachment and per the SPA that is NOT any of the legal ways to deliver a conversion notice. They could have sent it registered mail, courier service and a multitude of other ways. Shoot ... any court will tell you the best way to send something is registered mail with signature and delivery receipt.
You would think Adar Bays with something as important as a debt conversion notice would spend the 5 bucks to send it by certified mail service.
The conversion terms on the agreement Adar Bays sent were calculated incorrectly. Theu do not use the correct 10 trading says which resulted in a conversion more favorable to Adar Bays by 10%. They put the wrong conversion amount on the notice as the dollar amount did not match the shares they indicated they wanted to convert.
That is 3 things right there off the top of my head. As critical as you are of the CEO ... you should be just as critical as Adar Bays negligence on not delivering the conversion notice per the terms of the SPA, calculating the conversion at the incorrect share price by not using the proper 10 day period which resulted in an incorrect share conversion price both of which are grounds to make the debt conversion notice invalid.
You would think something worth millions of dollars according to Adar Bays would be important enough to follow a simple debt conversion delivery and make a simple calculation correctly. More holes than swiss cheese.
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