FONU2 Inc (FONU)

[Sooah]

$FONU TO BE TOXIC DEBT FREE >> READ

I did a full review of $FONU's SEC filings and can tell you that this issuer as of now is potentially 100% toxic debt free and their annual report due by the end of December 2014 will confirm it. $FONU's fiscal end is 9/30. Reviewing the last 10Q, period ended 06/30/2014, $FONU reported that it had the following convertible notes remaining as of the reporting period:

11/13/2013 note - $102,280 due to JMJ. Note that $FONU was required to file a S-8 to reserve what is owed to JMJ as of the period and accordingly, a S-8 was filed to reserve 20MM shares which reflects the same balance. As long as this note has a balance remaining, FONU is required to file an additional S-8 with the SEC to allocate shares due, however a subsequent S-8 filing has not been filed which leads me to believe this note has been settled in full.

11/6/2013 note - $73,500 due to Asher. From June 30 to date, you see enormous volumes traded putting downward pressure on the share price. This is typical of an Asher conversion. This note is also done.

10/21/2014 13G filed by Magna - This part of the reassigned note for $50,000 for which Magna received 14,957,471 shares so far. MM BMAK you see on L2 is a very well known MM for Magna. This is the last of the conversion we're seeing.

MM BKRT is not necessarily a noteholder converting. The company has professionals it had retained that are paid in shares so when they have shares to convert and sell, it's very short lived.

Since the June 30th 10Q filing, $FONU has not taken on any additional debt. This makes sense because the investment banker willing to finance them up to $50MM would require that $FONU get rid of toxic debt first to flip their balance sheet in the right direction. Allowing the conversions during their 4th quarter without taking on any more toxic financing accomplishes that. This is clearly noted and filed in their reports to the SEC.

$FONU will be toxic debt free and an announcement to this effect should come shortly. This is huge with acquisition news right around the corner.

http://www.sec.gov/cgi-bin/browse-edgar?company=Fonu2&owner=exclude&action=getcompany

To review yourself, search for 8-K filings 1.01 during 2014 and 10Q. Very clean financials with a lot of potential here.