Here is the dilution potential from our investors
Post# of 36728
Posted On: 06/03/2014 10:35:56 AM
Here is the dilution potential from our investors at iEquity. This is just potential based off of last quarters dilution of 130mil shares. I am not saying this will happen. I am just saying that it is something shareholders need to be aware. Surely, iEquity could do the dignified thing and change the conversion rate or retire these notes as the bottom line improves.
From last quarterly:
"As of March 31, 2014, a total of $1,070,466 in short term convertible notes remained outstanding, on which a total of $83,437 had accrued as interest. In addition, two notes in the amount of $30,000 each, dated October 1, 2013 and January 1, 2014, payable for consulting services previously rendered, remained outstanding as long-term liabilities, on which a total of $2,236 in interest had accrued as of March 31, 2014."
1,070,466 + 83,437 + 30,000 + 30,000 + 2,236 = $1,216,139
@ conversion rate of .0003
= 4,053,796,667 new shares potential
And this is not to mention that iEquity will continue to get $50k/mo.
From last quarterly:
"As of March 31, 2014, a total of $1,070,466 in short term convertible notes remained outstanding, on which a total of $83,437 had accrued as interest. In addition, two notes in the amount of $30,000 each, dated October 1, 2013 and January 1, 2014, payable for consulting services previously rendered, remained outstanding as long-term liabilities, on which a total of $2,236 in interest had accrued as of March 31, 2014."
1,070,466 + 83,437 + 30,000 + 30,000 + 2,236 = $1,216,139
@ conversion rate of .0003
= 4,053,796,667 new shares potential
And this is not to mention that iEquity will continue to get $50k/mo.
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