(Total Views: 235)
Posted On: 01/03/2020 12:25:13 PM
Post# of 7802
Here's an example from the 2018 10-K, page F-18:
There are several of these which demonstrate a member of the Board buying shares via a convertible note.
As best I can tell, these notes have still not been converted as they continue to remain in the financials.
What's that $25K worth now? $285,000 plus interest. Yet, STILL not converting? They must be waiting for something huge!
Meanwhile the attackers of this company were calling it a POS in May of 2018.
Quote:
In May of 2018, the Company entered into a convertible promissory note agreement in the amount of $25,000 with an individual who is both related to the Company’s CEO and a member of the Company’s Board of Directors. This loan pays interest at a rate of 6% per annum and the principal and accrued interest was due on or before August 30, 2018. The note is unsecured and is convertible at the lender’s option into shares of the Company’s common stock at a rate of $0.0007 per share. This note is currently in default due to non payment of principal and interest.
There are several of these which demonstrate a member of the Board buying shares via a convertible note.
As best I can tell, these notes have still not been converted as they continue to remain in the financials.
What's that $25K worth now? $285,000 plus interest. Yet, STILL not converting? They must be waiting for something huge!
Meanwhile the attackers of this company were calling it a POS in May of 2018.
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