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Which begs the question what's 70% of zero .... ?

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Post# of 82686
(Total Views: 397)
Posted On: 08/28/2020 12:55:53 PM
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Posted By: gimli
Re: hotstockerz #71605
Which begs the question what's 70% of zero .... ?

.......
Quote:
Note 14 – Subsequent Events

Subsequent to June 30, 2020, the Company issued three unsecured convertible promissory notes aggregating $159,500, bearing interest at 8% per annum, and maturing in twelve months through July 2021. At the option of the holder, the notes are convertible into shares of common stock of the Company at a price per share discount of 61% to 70% of the market price of the Company’s common stock, as defined, for 15 to 20 days preceding a conversion notice. In July 2020, in connection with the issuance of one convertible note that aggregated $25,000, the Company issued warrants to purchase 588,235 shares of the Company’s common stock. The warrants were exercisable immediately, at an exercise price of $0.085 per share, and expire in 5 years.

Subsequent to June 30, 2020, convertible notes aggregating $132,901 of principal and $7,618 of accrued interest were converted into 3,841,085 shares of common stock at conversion prices ranging from $0.0214 to $0.061938 per share.

Subsequent to June 30, 2020, the Company issued 2,680,000 shares of common stock with a fair value of approximately $250,000 to pay off approximately $137,000 of the debt settlement obligation.



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