We found out how they are paying/incentivizing the
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Posted On: 03/22/2017 11:31:20 AM
We found out how they are paying/incentivizing the consultants (assuming it's the master planner and the architect).
On February 1, 2017 the Company issued five year warrants to purchase 1,500,000 shares of common stock, at an exercise price of $.011 per share to each of two separate consultants for services. The warrants will be vested in three equal installments starting from April 30, 2017 and following on April 30, 2018 and April 30, 2019.
Also what is with these new convertible notes:
On February 21, 2017, the Company sold to an institutional lender (Power UP Lending Group) a convertible note in the amount of $103,500, bearing interest at the rate of 12% per annum, and due November 30, 2017. The note is convertible any time 180 days after issuance date, conversion price equal to 58% multiplied by the average of the lowest 2 trading price during the 15 trading days prior to the conversion.
On March 15, the Company issued to Bellridge Capital, LP a $5,000 Original Issue Discount 10% Convertible Debenture (the " Debenture "
in the principal amount of $105,000, due March 15, 2018.
On March 21, 2017, the Company issued a 7% Fixed Convertible Promissory Note in the principal amount of $105,000 due September 21, 2018 to Tangiers Global, LLC.
I read the notes in the 10-Q. Perhaps this is the only way they can raise short term cash at the moment? Why not borrow $$ from Soltech?
On February 1, 2017 the Company issued five year warrants to purchase 1,500,000 shares of common stock, at an exercise price of $.011 per share to each of two separate consultants for services. The warrants will be vested in three equal installments starting from April 30, 2017 and following on April 30, 2018 and April 30, 2019.
Also what is with these new convertible notes:
On February 21, 2017, the Company sold to an institutional lender (Power UP Lending Group) a convertible note in the amount of $103,500, bearing interest at the rate of 12% per annum, and due November 30, 2017. The note is convertible any time 180 days after issuance date, conversion price equal to 58% multiplied by the average of the lowest 2 trading price during the 15 trading days prior to the conversion.
On March 15, the Company issued to Bellridge Capital, LP a $5,000 Original Issue Discount 10% Convertible Debenture (the " Debenture "
in the principal amount of $105,000, due March 15, 2018. On March 21, 2017, the Company issued a 7% Fixed Convertible Promissory Note in the principal amount of $105,000 due September 21, 2018 to Tangiers Global, LLC.
I read the notes in the 10-Q. Perhaps this is the only way they can raise short term cash at the moment? Why not borrow $$ from Soltech?
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