Ever Talk to Peter...Steve, How much Toxic was "Yours"
You Hammered Your Shareholders With Shares to the Market
Cheap ones sold into a PR campaign.....
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Samblis ICPA Wednesday, November 14, 2012 6:49:19 PM
Re: B402 post# 84815 Post # of 84884
Well your statement
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This is the Toxic financing that has destroyed shareholder value
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...is just not true. Read my past posts. Yes I did loan the company a great deal of money and yes I have been paid some share in return to retire some of that debt. Peter does the numbers so I don't want to misquote as to what of this was mine. I believe in general some could have been mine.
Here is almost a Billion of what you Hammered with..
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During the nine month period ended September 30, 2012, notes with a face value of $97,500 was converted into 350,445,504 shares of common stock. The debt conversion was recorded at the fair market value of the stock, at an average price of $.00535. The difference in the calculated issue price, per the agreed terms listed above, and the fair market value of the shares resulted in a recognition of $1,777,023 as an expense of the conversion, included as a change in derivative. The Company currently reports the amount due, under these convertible notes net of unamortized discounts and financing costs (amortized to interest expense over the term of each note) associated with origination fees and the beneficial conversions resulting from the terms of the installment funding.
The holder has converted a portion of these notes in satisfaction of the amounts due. During the three month period ended March 31, 2012, notes with a face value of $122,500 was converted into 256,718,520 shares of common stock, at an average price of $.00048
The holder has converted a portion of these notes in satisfaction of the amounts due. During the six month period ended June 30, 2012, notes with a face value of $142,500 was converted into 298,318,520 shares of common stock, at an average price of $.00048,
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