Posted On: 01/22/2014 11:18:12 PM
Post# of 690
don't know but this is possibly what is going on with all the selling. from the last Q
NOTE 9 – CONVERTIBLE NOTE PAYABLE
On May 13, 2013, the Company issued a convertible promissory note to a third party, with a principal amount of $50,000. This note is due and payable in full on May 14, 2015, and bears interest at 6% per annum. At any time prior to the payment in full of the entire balance of the note, the creditor has the option of converting all or any portion of the unpaid balance of the note into shares of common stock at a conversion price equal to seventy percent of the lowest closing bid price of the common stock for any of the five trading days prior to and including the conversion date.
NOTE 9 – CONVERTIBLE NOTE PAYABLE
On May 13, 2013, the Company issued a convertible promissory note to a third party, with a principal amount of $50,000. This note is due and payable in full on May 14, 2015, and bears interest at 6% per annum. At any time prior to the payment in full of the entire balance of the note, the creditor has the option of converting all or any portion of the unpaid balance of the note into shares of common stock at a conversion price equal to seventy percent of the lowest closing bid price of the common stock for any of the five trading days prior to and including the conversion date.
(0)
(0)
