Lithium Exploration Group Inc. (fka LEXG)

[UserAlias1]

They clearly have debt! 10/17/14-

"What we need to do as a company is get there as fast as possible so that we are in a position to restructure dilutive debt and move the company forward," commented CEO Alex Walsh.

http://www.power-eng.com/marketwired/2014/10/17/lithium-exploration-group-announces-results-of-special-meeting-of-shareholders.html

Total liabilities (including debt) is $3,417,902 (from 10K) -
Of this amount, $3,283,046 is from 2 convertible promissory notes.

http://investorshub.advfn.com/boards/read_msg.aspx?message_id=107721564

As at June 30, 2014, there remains a balance of $343,475 unconverted and payable pursuant to the note.

Only two conversions listed after that date, they don't add up to $343,465... Still over $200K to be converted from that note when the 10K was filed 2 weeks ago.

On July 16, 2014 we issued 1,800,000 common shares in conversion of $70,200 payable pursuant to the note.
On August 1, 2014 we issued 1,062,687 common shares in conversion of $39,000 payable pursuant to the note.

From the Oct. 14th 10K filing. www.otcmarkets.com/edgar/GetFilingHtml?FilingID=10247777

http://investorshub.advfn.com/boards/read_msg.aspx?message_id=107721251