Metavesco, Inc. 10-Q

ITEM 1A. RISK FACTORS Not applicable for a small reporting company. ITEM 2. UNREGISTERD SALES OF EQUITY SECURITIES AND USE OF PROCEEDS On September 19, 2017 the Company issued its Convertible Promissory Note in an amount up to $150,000 in favor of Roran (the “ Note ”). The Note was issued pursuant to a Convertible Loan Agreement with Roran (the “ Loan Agreement ”). Amounts borrowed under the Note bear interest at 12% per annum. All outstanding principal and accrued interest on the Note is due and payable on the maturity date, which is March 19, 2019. The Note is convertible into shares of the Company's common stock (" Common Stock ") at any time at the discretion of Roran any time after the first 90-days under the Note at a conversion price per share equal to the lesser of: (i) 60% multiplied by the lowest trading price for the Common Stock during the 20 trading days prior to the date of the Note; or, (ii) 60% multiplied by the lowest trading price for the Common Stock during the 20 trading days prior to the date of conversion. The Note may be repaid in whole at any time. The repayment amount is subject to a premium on the outstanding principal balance of if repaid after 90-days, ranging from 10% to 25%, depending upon when repayment is tendered. If the Company fails to meet its obligations under the terms of the Note or the Loan Agreement, the Note shall become immediately due and payable and subject to penalties provided for in the Note. The foregoing descriptions of the Loan Agreement and the Note do not purport to be complete and are qualified in their entirety by the terms and conditions of the Loan Agreement and the Note. A copy of the form of the Loan Agreement and the Note is attached hereto as Exhibit 10.2 and 10.3, respectively, and are incorporated herein by reference. The Note issued under the Loan Agreement was offered and sold without registration under the Securities Act in reliance on the exemptions provided by Section 4(a)(2) of the Securities Act and/or Regulation D promulgated thereunder, and in reliance on similar exemptions under applicable state laws. ITEM 3. DEFAULTS UPON SENIOR SECURITIES None. ITEM 4. MINE SAFETY DISCLOSURES Not applicable.