When have no cash and have only been able to generate $81 in revenues during the six months ended March 31, 2015, the choice for all penny stocks in this situation is to go out and add some toxic debt to their books. That’s exactly what Peer to Peer Network (OTC PINK: PTOP) has had to do, having recently entered into two debt deals in the past month while bringing some PR attention about their license with mobile technology platform of Code2action, Inc. Well if the SuperStar who was able to help push SpiralToys (STOY) and Coates Intl (COTE) towards the end of July can help, maybe there’s a chance that PTOP stock hasn’t topped out just yet.
Find out more about PTOP shares here: $PTOP
At the start of June, Peer to Peer Network made their first public address of the year, announcing that it had acquired an exclusive license to the technology assets of mobile marketing technology company Code2action, Inc. Since then, news has trickled out, none of which has been earth moving, but they did have to issue a $500,000 debt note to gain 75% control ownership for the exclusive license agreement and it put the Company on the hook for minimum payments of $10,000 per month cash and a 33.33% share of all future revenues.
A huge stake and monthly financial commitment like that brings upon itself some serious ramifications if some money can’t start flying in the door real quick. Well, the next couple of weeks showed the intent at least that they would do that by singing on some top level management and vendor licenses for the “in the cloud” SaaS mobile business card platform throughout North America. Knowing that monthly payment of $10,000 was fast approaching, Peer To Peer reached out for a reach around deal with two financiers: Mastiff Alternative Opportunity Fund LP and LG Capital Funding, LLC.
Mastiff Alternative Opportunity Fund LP: On July 10, 2015, the Company sold a 12% note to Mastiff Alternative Opportunity Fund LP in the principal amount of $34,100 which accrues interest at 20% annually, matures on July 10, 2016, and is convertible into PTOP stock at a price equal to 50% of the average of the three lowest intraday trading prices during the twenty trading days prior to the date of conversion.
LG Capital Funding, LLC: On July 17, 2015, Peer To Peer Network grabbed $63,000 from LG Capital Funding, LLC by issuing two convertible notes at $31,500 each. One note is to pay off an ld note, while the other is new money, both of which notes have terms of one year and can be converted into PTOP shares at any time after the requisite Rule 144 holding period at a rate of 50% of the average of the three lowest trading price in the twenty-eight (28) trading day period prior to the conversion.
Now, Mastiff only shows up on SEC filings in connection with Peer To Peer which leads no real lead as to what to expect from this deal. However, when you search for LG Capital, you’ll find it all there with links to ALLM, BLUU, REDG, NAKD, ALKM, DNRG, and PZOO – just on the first page.
For those with a memory gap or that haven’t been trading penny stocks for that long, Peer to Peer Network was Web Wizard, Inc. until they changed their name to Psychic Friends Network Inc. (PFNI). Stock Market Authourtiy, a group that was as big and as good as, if not better than, Awesome Penny Stocks, pumped PFNI stock for a brief moment in December, 2012 when APS was briefly pumping Swingplane Ventures (SWVI). What’s weird is how APS’s best pump, SNPK, now Pharmagen, Inc. (PHRX), showed up on the unusual volume scanner yesterday.
The connection with the formerly pumped PFNI stock has long been swept under the rug and forgotten about. What is of interest now is whether or not PTOP stock can “pop” past their 200 Day MA of 0.005 – a level not visited or even tested since January.
Since PTOP happens to be the newest choice of whom last issued paid alerts on STOY and COTE in mid-late July, the interest could build on the ticker as the sweaty month of August begins to crawl into fall. One need not be psychic to think that PTOP shares will see some more volume over the coming weeks, but what is pretty clear is that the involvement of LG Capital Funding, LLC could be a sign of some promotional campaign activity to begin this month.
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