RE: Daybreak22 Dec 2021 18:37
Make that 45% of $ 3.29mm in a company who have converted unpaid salaries et al into equity
following is a description of the debts converted, amounts of debt, and shares of common stock agreed to be issued in exchange:
Shares of
Dollar Amount Common Stock
Description of Debt Converted Converted to be Issued
Accrued deferred salary amounts owed to
employees $ 629,046.00 1,045,881
Accrued deferred director fees $ 142,968.75 317,708
12% Subordinated Note Payable to James F.
Westmoreland $ 514,986.35 1,144,414
Interest in Production Payments purchased
pursuant to a Production Payment Interest
Purchase Agreement dated as of August 22,
2019 between the Company and James F.
Westmoreland $ 550,100.00 1,222,444
TOTAL
Harry