Posted On: 01/16/2016 6:21:27 PM
Post# of 15188
Since the notes say they were still in default on Oct. 31st. and the filings show 4.3 billion shares were already outstanding on Oct. 30th. With no change by Nov. 12th. I would have to say no they haven't been converted yet.
If the noteholders were already issued shares by the record date the notes wouldn't still be in default on Oct. 31st. If the company issued the shares to the noteholders they did their part. It doesn't matter if the noteholders sold them or not. I think this has more to do with the $5 million equity line they said they got.
OUTSTANDING SHARES AND VOTING RIGHTS
As of the record date of October 30, 2015 (the “ Record Date ”), the Company's authorized capitalization consisted of 5,000,000,000 shares of Common Stock, of which 4,300,023,776 shares were issued and outstanding.
http://www.otcmarkets.com/edgar/GetFilingHtml...D=10996676
As of November 12, 2015, the number of outstanding shares of the registrant's Common Stock was 4,300,023,776.
If the noteholders were already issued shares by the record date the notes wouldn't still be in default on Oct. 31st. If the company issued the shares to the noteholders they did their part. It doesn't matter if the noteholders sold them or not. I think this has more to do with the $5 million equity line they said they got.
OUTSTANDING SHARES AND VOTING RIGHTS
As of the record date of October 30, 2015 (the “ Record Date ”), the Company's authorized capitalization consisted of 5,000,000,000 shares of Common Stock, of which 4,300,023,776 shares were issued and outstanding.
http://www.otcmarkets.com/edgar/GetFilingHtml...D=10996676
As of November 12, 2015, the number of outstanding shares of the registrant's Common Stock was 4,300,023,776.
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