Replies to post #72990 on Asia Broadband Inc (AABB)

[moneynugs]

By that logic Cowboy Clive is a real problem for the health of the company.

[Don]

What" Clive won't allow it? BS... IF those clowns had any sense they would cut a check for the outstanding balance and send it to Clive by registered mail. If he refuses to accept, let Clive take them to court. The judge would laugh at Clive and tell him to take the money and get tf out.
Company won't do that though because they are in on the game and profiting from the usury that the note represents.

[i_dont_know]

Benny you are right the note is a non issue anymore if you have a look at the last 10K 2021: You will read following

On January 15, 2016, the Company received $311,000 from Whitecastle Capital Corp. for a convertible note with an interest rate of 8% per annum and has conversion price of $0.05, after a 2 year period, and a 4 year term to maturity. At the option of the holder, the note was increased by $600,000 in 2020. As of December 31, 2021, the total amount of the debt outstanding with accrued interest was $701,416.

15/1/2016 --> Issuance - 2 years till conversion
15/1/2018 --> Conversion Period 4 year till maturity
15/1/2022 --> Maturity: The note has to paid off in cash or shares despite the company is in default (which cant be if you look at the financials)
Conclusion: Note is done! There is no Clive note anymore! Yeahh!!! Finally the note is over!

But need further help from you for the conversion price wich should be 5 cents! Why is the note converted always for 0.0004? For example:

Oct. 4, 2021 New Issuance 100,000,000 Common $0.0004 Yes Whitecastle Capital Corp. – Clive Mendenhall Debt conversion Unrestricted Rule 144 4(a)(1)