Replies to post #6231 on Solar Energy Initiatives Inc (SNRY)

[Snizzle]

Bucks, I followed your post but you lost me in the end. What new note for Asher?

All Asher notes should have already been converted and behind us with the exception of one. That one is not due to be converted until December 2012.

On March 12, 2012, the Company entered into a Securities Purchase Agreement with Asher Enterprises, Inc. (“Asher”), for the sale of an 8% convertible note in the principal amount of $18,000 (the “Note”), to mature on December 12, 2012. The Note bears interest at the rate of 8% per annum. The Note is convertible into common stock, at Asher’s option, at a 50% discount to the average of the three lowest closing bid prices of the common stock during the 10 trading day period prior to conversion. The beneficial conversion feature value accounted for in the discount to notes was $18,000.