Borris.....
Assumption
conv note – issue 1 - 19-11-2012
notes = 18
value = $25K
total = $450K
rate = 15%
I assumed issue 1 is the same as Conv Note 3.1 because it had the same value and you did not specify a quantity of shares or options in your explanation of Conv note – issue 1
or I am going blind and did not see it.
