Replies to post #26222 on Propellus Inc (PRPS)

[EastCoastCdn]

It doesn't make sense. Looks like a sloppy copy paste job from the 10-k or they are failing to disclose something.

As of December 31, 2012 and 2011 the outstanding note balance was $66,186 and $200,000, respectively.

My best guess, it should read
“As of March 31, 2013 and December 31, 2012 the outstanding note balance was $51,334 and $66,186 respectively.”

http://www.otcmarkets.com/edgar/GetFilingHtml?FilingID=9224841

[EastCoastCdn]

After going over the numbers I believe it was a lazy copy/paste job.

Note for 31 Dec 2012 $66,186
Note for 31 Mar 2013 $51,334
Legal Fees for default on the note $5000
Conversion of the note $19,852 and $1,205 interest(I guess that is included in the conversion or the math doesn't make sense).

$66,186
-$19852
$46334
+$5000
$51334

In other words it took 11,835,000 shares to lower the note by $14,852