Replies to post #721 on Good Vibrations Shoes Inc (GVSI)

[AUDACIOUSWON]

Oh ok. That's awesome. I was wondering about that note.

[DaReal]

Is that why he removed his Tweet?
as you state 500.000 per year for 350M shares is 700 year contract... even if it's for each debt holder it's still a 350 year contract.

Small amount of debt?

NOTE 5
-
CONVERTIBLE PROMISSORY NOTES
On October 31, 2009 the Company issued a Convertible promissory note to Pacific Park Investments (the Lender) in return for checks and invoices paid totaling $299,940.00. The note was to be paid in full on by October 3, 2010 and due to the short-term nature of the note it carries a zero interest rate. The holders may at its election convert all or part of this note into shares of the Company's common stock at a fixed predetermined discounted conversion rate determined at the commitment date. The notes have matured during the year and are considered in default by the Lender.
On June 16th, 2013, Pacific Park Investments (the Lender), assigned one half of the convertible note to East Light Enterprises, Inc. and one half of the note to Globe Idol Capital, Inc.

On July 1, 2013 East Light Enterprises, Inc. was issued a new convertible promissory note by the company for $17,500 in exchange for a $17,500 cash loan. Globe Idol Capital, Inc. was also issued a convertible promissory note in the same amount for an identical cash loan, and both notes hold a conversion price of .0001 due to the high amount of risk and lack of a public market that existed at the time the note was issued.

Here the removed Tweet from the Company:

@TheReal666 Do you have $35k to lay out at better terms? BTW, there are strict annual limits on the debt, 500k shares per year starting 2015

500k per year lol...


GL with that

[rapstore]

The debt conversion is the best


Toxic dilution for existing shareholders

Unless you get a real clarification of this
I would. Stay completely away from this