Biostax Corp (BTAX)

[RFB]

From the just released 10Q.

They are deeply involved in toxic notes and warrants as indicated below and continue to finance operations through dilutive activities....proof below.

Now they are PRing in an attempt to pump the security, with little in the way of actual sales numbers and revenue in order to be able to pay off these notes, hence conversion at a 40% discount and dump onto retail.

This company is the epitome of OTC land....dump shares on retail, while whispering sweet nothings in your ears.

Did they PR the Q results....NOPE....wonder why?????

"Management intends to fund future operations through additional private or public debt or equity offerings, and may seek additional capital through arrangements with strategic partners or from other sources. Based on the Company’s operating plan, existing working capital at December 31, 2015 was not sufficient to meet the cash requirements to fund planned operations through December 31, 2016 without additional sources of cash."

"Promissory notes issued between January 1, 2016 and March 31, 2016. Lenders earn interest at a rate of 10% per month. Notes are repayable in one year. 312,000

Promissory note issued February 3, 2016, payable in 90 days which includes an original issue discount of $40,000 and expenses of $5,000, resulting in net proceeds of $200,000. 245,000

Total 2,838,200 2,793,701

Less: Current Portion (2,838,200 ) (2,793,701 )

Long-Term debt, less current portion $ - $ -



As of March 31, 2016, the Company had accrued $365,006 in unpaid interest, compared to $236,671 as of December 31, 2015"