So you either believe or don't believe the six mon
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Posted On: 07/31/2018 12:41:04 PM
So you either believe or don't believe the six month financials for the period ending 4/30/18.
It says that LAM had SOLD 610 million shares resulting in net proceeds of $1.61 million (avg sales price of .002641 . LAM retained 45% of proceeds, $724,893 as the iis administrative, legal, and handling fee and the balance, $885,980 was used as settlement with outstanding creditors participating in the program..
LAM was still owed $65,000 to cover it's cost for implementation of the 3a10 deal. That deal matured on 7/14/18 . LAM can convert at 75% of .0011 (bid price on 7/14/17) = .000825 .
$65,000/.000825 = 78.78 million shares of further dilution
Remember this tweet:
@on4company
17 Oct 2017
More
Yesterday ONCI settled $1.8M of inherited long term debt for $600,000 thats 33 cents on the dollar!
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Now compare the tweet to what the financial said. If Berman settled the $1.8 million debt for $600K, why was $1.61 million settled for $885,980? That means as of 4/30/18, there was still $190K of debt ($1.8- 1.61) of debt remaining to be converted.
As of 4/30/18 the $600K mentioned by Berman in his tweet was actually $885,980.
Either Berman didn't have a clue or didn't want to tell the full truth.
Post 4/30/18, in order to clear remaining $190K debt it's 55% of some price ( will use .0022 ...could be higher or lower) to convert. Could be up to an additional 200 million shares issued to LAM.
Doesn't sound like LAM was 99% done when Berman said it was.
It says that LAM had SOLD 610 million shares resulting in net proceeds of $1.61 million (avg sales price of .002641 . LAM retained 45% of proceeds, $724,893 as the iis administrative, legal, and handling fee and the balance, $885,980 was used as settlement with outstanding creditors participating in the program..
LAM was still owed $65,000 to cover it's cost for implementation of the 3a10 deal. That deal matured on 7/14/18 . LAM can convert at 75% of .0011 (bid price on 7/14/17) = .000825 .
$65,000/.000825 = 78.78 million shares of further dilution
Remember this tweet:
@on4company
17 Oct 2017
More
Yesterday ONCI settled $1.8M of inherited long term debt for $600,000 thats 33 cents on the dollar!
=========
Now compare the tweet to what the financial said. If Berman settled the $1.8 million debt for $600K, why was $1.61 million settled for $885,980? That means as of 4/30/18, there was still $190K of debt ($1.8- 1.61) of debt remaining to be converted.
As of 4/30/18 the $600K mentioned by Berman in his tweet was actually $885,980.
Either Berman didn't have a clue or didn't want to tell the full truth.
Post 4/30/18, in order to clear remaining $190K debt it's 55% of some price ( will use .0022 ...could be higher or lower) to convert. Could be up to an additional 200 million shares issued to LAM.
Doesn't sound like LAM was 99% done when Berman said it was.
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