Posted On: 01/28/2014 4:10:01 PM
Post# of 5949
RIGH and BCAP connection READ FILINGS
In July the Company and RightSmile, Inc. (“RIGH”) entered into a series of Amendments to Convertible Notes dated between January 2010 and January 2012. The parties agreed to exchange approximately $213,000 in aged debt earning interest at 18% per annum for 750,000,000 free trading shares of RIGH. The parties further agreed to amend the terms ofthe remaining loans entered into in 2012 to
taling less the $40,000, which would reduce the
conversion rate to 25% of the average closing bid price for the previous 10 trading days or
RIGH has the ability to pay the loan in cash prior to conversion. The Note dated October 18,
2011 for $200,000, the parties agreed to forgiv
e all accrued interest and give RIGH the ability
to pay the loan back in cash prior to convers
ion. Currently the parties are working on an
agreement to extend the Note due on October 18,
2012 until January 18, 2013 in exchange for
the Company receiving a lump sum cash payment on that date.
In July the Company assigned the available de
bt in RIGH convertible to a third party for
$75,000, but because the RIGH was
not able to file its financials and restore the entity to a
“Limited Information” until recently.
PAGE 9
http://www.otcmarkets.com/financialReportView...p;id=91991
In July the Company and RightSmile, Inc. (“RIGH”) entered into a series of Amendments to Convertible Notes dated between January 2010 and January 2012. The parties agreed to exchange approximately $213,000 in aged debt earning interest at 18% per annum for 750,000,000 free trading shares of RIGH. The parties further agreed to amend the terms ofthe remaining loans entered into in 2012 to
taling less the $40,000, which would reduce the
conversion rate to 25% of the average closing bid price for the previous 10 trading days or
RIGH has the ability to pay the loan in cash prior to conversion. The Note dated October 18,
2011 for $200,000, the parties agreed to forgiv
e all accrued interest and give RIGH the ability
to pay the loan back in cash prior to convers
ion. Currently the parties are working on an
agreement to extend the Note due on October 18,
2012 until January 18, 2013 in exchange for
the Company receiving a lump sum cash payment on that date.
In July the Company assigned the available de
bt in RIGH convertible to a third party for
$75,000, but because the RIGH was
not able to file its financials and restore the entity to a
“Limited Information” until recently.
PAGE 9
http://www.otcmarkets.com/financialReportView...p;id=91991
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