Replies to post #19803 on All American Pet Company Inc (AAPT)

[AliEn BRaInZ stox]

No chance of a rs. All we have here are shorts taking advantage of weak volume due to summer vacation.. This sparks some panic selling & here we are. After the 4th of July Holiday we will rock

[EarnestDD]

3/6/12 in an 8k. So what happened to this financing?
jmo

Item 1.01 Entry into a Material Definitive Agreement.

On March 6, 2012, the Registrant executed a Convertible Revolving Grid Note (the “Note”) for a principal sum of up to One Million Dollars ($1,000,000) with the Founders of the Company, Lisa Bershan and Barry Swartz (the “Lenders”). The note bears interest at a fixed rate equal to Ten percent (10%) per annum and may be converted into equity of the Company at a conversion price of $0.0022, on or before March 6, 2013, at the option of the Holders. This transaction is deemed a related party transaction pursuant to Item 404(a) of Regulation S-K on the basis that the Lenders also serve as the Registrants principal officers and Directors of the Company. Additionally, Mr. Schwartz and Mrs. Bershan are husband and wife. The proceeds will be used for general working capital.

[smoke_em]

Finally someone gets it!

[duelittle2]

Sure...Raise the A/S by 500 mill to do a R/s..Sure!!

[smoke_em]

Finally someone gets it! Your shares you had 2 weeks ago are worth 1/2 due to the A/S increase, does not matter if those shares are in the market now because they will be at some point and the market is forward looking. At that point of 1 billion shares in the O/S at only a PPS of .10 cents makes AAPT have a 100 Million dollar market cap.,,,, that's right just 10 cents! The company wanted and grabbed the 1 Billion NV. shares for a REASON, they need more money because they maxed out the 500 Million that they increased in Jan. 2012 from 250 Million.