SIRG entered into a Convertible Promissory Note wi
Post# of 4018
SIRG entered into a Convertible Promissory Note with Tangiers on October 14, 2011 in the amount of $31,500. The note has an interest rate of 10% with the maturity date of July 14, 2012. The Company has renegotiated the terms of the note. The new terms require the Company to make two payments of $18,750, which one payment has been timely satisfied, and issue 3,000,000 shares of common stock to Tangiers. The second payment of $18,750 has not been paid as of September 30, 2012. In addition, as of September 30, 2012, the Company has not issued shares of common stock to Tangiers. During the three and nine month period ended September 30, 2012 the Company recorded amortization of debt discount of $2,523 and $8,905, respectively.
The Company entered into a Convertible Promissory Note with Asher Enterprises Inc. on January 9, 2012 in the amount of $37,500. The note had an interest rate of 8% with the maturity date of October 11, 2012. This obligation has been satisfied as of September 30, 2012 (See Note 7).
The Company entered into a Convertible Promissory Note with Asher Enterprises Inc. on February 29, 2012 in the amount of $30,000. The note had an interest rate of 8% with the maturity date of December 5, 2012. This obligation has been satisfied as of September 30, 2012 (See Note 7).
The Company entered into a Convertible Promissory Note with Grand View Ventures on February 16, 2012 in the amount of $190,000. The note has an interest rate of 15% with the maturity date of February 16, 2013 (See Note 7).
The Company entered into a Convertible Promissory Note with Grand View Ventures on May 3, 2012 in the amount of $133,333. The note has an interest rate of 15% with the maturity date of November 1, 2012 (See Note 7).
The Company entered into a Convertible Promissory Note with Asher Enterprises Inc. on July 17, 2012 in the amount of $53,000. The note has an interest rate of 8% with the maturity date of April 19, 2013 (See Note 7).
The Company entered into a Promissory Note with FOGO, Inc. on July 31, 2012 in the amount of $200,000. The note has an interest rate of 12% with the maturity date of January 1, 2013.
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