Am I thinking wrong?! Market Cap of just 52k and s
Post# of 210
Posted On: 12/19/2016 10:24:42 AM
Am I thinking wrong?! Market Cap of just 52k and shares outstanding of 25.051M only means a thousand things! But I am concerned with this in the 8k. If it is coming due in Sept. 7, 2017, at a price then the dilution will still happen in 2017, as this is their other handcuff. They owe $35750 and mkt cap is only 52k (according to Schwab) then I see this .001 convertible note still plaguing mjtk. Let's hope we get news on them paying this off before and not allowing them to eat up over half the mkt cap amount in toxic debt at .001 share price. CONVERTIBLE PROMISSORY NOTE
FOR VALUE RECEIVED , CANNASYS, INC. , a Nevada corporation (hereinafter called the "Borrower"
, hereby promises to pay to the order of AUCTUS FUND, LLC , a Delaware limited liability company, or registered assigns (the "Holder" the sum of US$35,750 together with any interest as set forth herein, on September 7, 2017 (the "Maturity Date", and to pay interest on the unpaid principal balance hereof at the rate of twelve percent (12%) (the "Interest Rate" per annum from the date hereof (the "Issue Date" until the same becomes due and payable, whether at maturity or upon acceleration or by prepayment or otherwise. This Note may not be prepaid in whole or in part except as otherwise explicitly set forth herein with the written consent of the Holder which may be withheld for any reason or for no reason. Any amount of principal or interest on this Note which is not paid when due shall bear interest at the rate of twenty-four percent (24%) per annum from the due date thereof until the same is paid (the "Default Interest". Interest shall commence accruing on the date that the Note is fully paid and shall be computed on the basis of a 360-day year and the actual number of days elapsed . All payments due hereunder (to the extent not converted into common stock, $0.001 par value per share (the "Common Stock" in accordance with the terms hereof) shall be made in lawful money of the United States of America. All payments shall be made at such address as the Holder shall hereafter give to the Borrower by written notice made in accordance with the provisions of this Note. Whenever any amount expressed to be due by the terms of this Note is due on any day which is not a business day, the same shall instead be due on the next succeeding day which is a business day and, in the case of any interest payment date which is not the date on which this Note is paid in full, the extension of the due date thereof shall not be taken into account for purposes of determining the amount of interest due on such date. As used in this Note, the term "business day" shall mean any day other than a Saturday, Sunday or a day on which commercial banks in the city of New York, New York are authorized or required by law or executive order to remain closed. Each capitalized term used herein, and not otherwise defined, shall have the meaning ascribed thereto in that certain Securities Purchase Agreement dated the date hereof, pursuant to which this Note was originally issued (the "Purchase Agreement".
FOR VALUE RECEIVED , CANNASYS, INC. , a Nevada corporation (hereinafter called the "Borrower"
, hereby promises to pay to the order of AUCTUS FUND, LLC , a Delaware limited liability company, or registered assigns (the "Holder" the sum of US$35,750 together with any interest as set forth herein, on September 7, 2017 (the "Maturity Date", and to pay interest on the unpaid principal balance hereof at the rate of twelve percent (12%) (the "Interest Rate" per annum from the date hereof (the "Issue Date" until the same becomes due and payable, whether at maturity or upon acceleration or by prepayment or otherwise. This Note may not be prepaid in whole or in part except as otherwise explicitly set forth herein with the written consent of the Holder which may be withheld for any reason or for no reason. Any amount of principal or interest on this Note which is not paid when due shall bear interest at the rate of twenty-four percent (24%) per annum from the due date thereof until the same is paid (the "Default Interest". Interest shall commence accruing on the date that the Note is fully paid and shall be computed on the basis of a 360-day year and the actual number of days elapsed . All payments due hereunder (to the extent not converted into common stock, $0.001 par value per share (the "Common Stock" in accordance with the terms hereof) shall be made in lawful money of the United States of America. All payments shall be made at such address as the Holder shall hereafter give to the Borrower by written notice made in accordance with the provisions of this Note. Whenever any amount expressed to be due by the terms of this Note is due on any day which is not a business day, the same shall instead be due on the next succeeding day which is a business day and, in the case of any interest payment date which is not the date on which this Note is paid in full, the extension of the due date thereof shall not be taken into account for purposes of determining the amount of interest due on such date. As used in this Note, the term "business day" shall mean any day other than a Saturday, Sunday or a day on which commercial banks in the city of New York, New York are authorized or required by law or executive order to remain closed. Each capitalized term used herein, and not otherwise defined, shall have the meaning ascribed thereto in that certain Securities Purchase Agreement dated the date hereof, pursuant to which this Note was originally issued (the "Purchase Agreement". 
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There is a VERY HIGH degree of RISK involved in trading and investing. Only invest what you can afford to lose.
As used herein, the terms "You" and "Your" shall mean you, individually, the reader, and each other party on whose behalf you may use the contained information at any time.
All references to "My", "I", and “The writer of the above post” shall refer to the creator.
Do NOT invest unless you are prepared to sustain a total loss of the money you have invested plus any commission or other transaction charges.
There is a very high degree of risk involved in trading and investing. Past results are not indicative of future returns. I assume no responsibility for your trading and investment results. You should NOT rely on the information in the above post to make any decision or take any action.
ALL OF MY STATEMENTS, including but not limited to, POSTS, MESSAGES, PRIVATE MESSAGES, and RESPONSES are OPINION and NOT fact and are for entertainment purposes only. Do your own research and make your own decisions based on your own conclusions.
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