well, then they will increase the authorized and outstanding shares, its simple, the cheapest and quickest way to access money is through issuing equity, shares of C$ stock. with no collateral, how in the hell is C$ going to get the ball rolling?
wabbits really don't come out of hats do they>? of course they don't.
simple math dfx ,,,,,$$$$$
The Company will need to raise additional funds within the next twelve (12) months in order to launch its product by the first quarter of 2012. It will need to raise One Million Five Hundred Thousand Dollars ($1,500,000.00) to acquire the rights to use and modify certain intellectual property in order to develop its product internally rather than through third party vendors. Management anticipates that it will need to raise an additional Two Million Dollars ($2,000,000.00) in order to develop its product and provide working capital for the Company. We have significant cash requirements in addition to our monthly operating expenses, including:• the annual payment of $1,500,000 to Global 1
, which is owned by our Founder, Jennifer Pharris, related to the license of technology from Global 1; • $750,000 to Kodiak Capital Group LLC, in consideration of the Equity Line of Credit contained in the Kodiak Equity Line of Credit (5% of the $15 million facility amount) half of which is being paid in 6,849,666 shares of common stock in lieu of cash. • $771,000 to Soprano Design Pty Ltd. pursuant to the Technology Sublicense Agreement, however this obligation will be canceled when the license to use and modify is effective; • $280,000 to pay off a promissory note to Dr. Wilson which carries an interest rate of 10% per annum and matures on the earlier of March 31, 2011 or the date cMoney closes an equity investment of $5,000,000; • $540,700 to pay off a promissory note to Dr. Wilson which carries an interest rate of 10% per annum and matures on May 13, 2011; • $220,000 to pay off a promissory note to Dr. Wilson which carries an interest rate of 10% per annum and matures in June 2011 unless he earlier converts part or all of the amount due into shares of our Common Stock at a conversion price of $0.0367 per share (after adjusting for the 3-for-1 split). ii. The Company plans to develop the mobile phone apps for sale to customers by the first quarter of 2012. iii. N/A. iv. The Company will hire a team of developers in order to develop the mobile phone apps.
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