GEMXX Corp (GEMZ)

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On August 27, 2015, the Company issued a 7.5% Convertible Debenture to a single unaffiliated party in the principal amount of $ 13,000. The convertible promissory note matures on August 27, 2016 and shall be convertible into common stock of the Company at conversion prices equal to the lower of $0.001 or 55% of the average of the 2 lowest trading daily prices of the Company’s common stock during the 20 consecutive trading days prior to the date on which Holder elects to convert all or part of the Note. The note also carries fees and penalties for various defaults. As on September 30, 2015 the total interest accrued on the said convertible promissory note was $72.12.