I just did, Convict. Just because your head is in
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Posted On: 08/13/2019 3:46:02 PM
I just did, Convict. Just because your head is in the sand doesn't mean it didn't happen.
Notes are notes, they are a loan from an individual to the company that is then convertible to shares. The company can't pay someone for a service and write it off as a note. They can pay someone in shares but they can't convert that debt to a note. Any note will have to have a corresponding deposit, checked by the auditor.
Services from related parties are fully disclosed and separate from notes from related parties for money loaned. They are two different things. You just hope people don't know that. And I'm going to assume without adding them up that the services and notes don't total the same. Just you hoping nobody checks. Either way, your point is moot.
You know nothing, Convict.
Notes are notes, they are a loan from an individual to the company that is then convertible to shares. The company can't pay someone for a service and write it off as a note. They can pay someone in shares but they can't convert that debt to a note. Any note will have to have a corresponding deposit, checked by the auditor.
Services from related parties are fully disclosed and separate from notes from related parties for money loaned. They are two different things. You just hope people don't know that. And I'm going to assume without adding them up that the services and notes don't total the same. Just you hoping nobody checks. Either way, your point is moot.
You know nothing, Convict.
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