Dilution will limit the gains as their is a note t
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(Total Views: 4241)
Posted On: 02/07/2017 8:54:55 PM
Dilution will limit the gains as their is a note that will be dumped here very soon possibly 6.3 Mil shares IMO. Depends on the 20 day average. I made a huge mistake. I thought it would have been 70-80 MIL but misread the o's on the calulator plus the PPS has held up. I believe the 20 day average is .022 with a conversion of .0121 per share. I thought 70 -80 MIL but some how screwed-up with my math as the dilution will be 6.323 Mil. This changes a lot IMO.
On August 19, 2016, Signal Bay, Inc. (the “Company”) entered into an 8% convertible promissory note (the "Note"
with LG Capital Funding, LLC. ("Lender" in the amount of $76,650. Of this amount $3,650 was an original issue discount (“OID”) and $3,000 was expensed on legal fees. The company received $70,000 and it was funded on August 22, 2016 (Purchase Date). Lender has the right at any time after six months, at its election, to convert (each instance of conversion is referred to herein as a “Conversion”) all or any part of the Outstanding Balance into shares (“Conversion Shares”) of fully paid and non-assessable common stock, $0.0001 par value per share (“Common Stock”), of Borrower as per the following conversion formula: the number of Conversion Shares equals the amount being converted (the “Conversion Amount”) divided by the Conversion Price. The conversion shall be equal to (a) 55% of the lowest trading price of the Company's common stock during the 20 consecutive trading days prior to the date on which Holder elects to convert all or part of the Note
76,500/1.21=6.33milshares
On August 19, 2016, Signal Bay, Inc. (the “Company”) entered into an 8% convertible promissory note (the "Note"
with LG Capital Funding, LLC. ("Lender" in the amount of $76,650. Of this amount $3,650 was an original issue discount (“OID”) and $3,000 was expensed on legal fees. The company received $70,000 and it was funded on August 22, 2016 (Purchase Date). Lender has the right at any time after six months, at its election, to convert (each instance of conversion is referred to herein as a “Conversion”) all or any part of the Outstanding Balance into shares (“Conversion Shares”) of fully paid and non-assessable common stock, $0.0001 par value per share (“Common Stock”), of Borrower as per the following conversion formula: the number of Conversion Shares equals the amount being converted (the “Conversion Amount”) divided by the Conversion Price. The conversion shall be equal to (a) 55% of the lowest trading price of the Company's common stock during the 20 consecutive trading days prior to the date on which Holder elects to convert all or part of the Note 76,500/1.21=6.33milshares
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