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Sunday, March 05, 2017 10:25:54 PM
In November, I wrote the following about new convertible notes announced in AXIM's 3Q/16 10-Q:
According to the 10-Q, TL-66 purchased the AXIM notes on Sept 16, 2016, and since it isn't a beneficial shareholder or insider, the six month period before the notes are eligible for conversion will end on March 16, 2017 (or possibly March 20, because Feb had only 28 days).
With a maximum conversion price of $0.22/sh, the conversion of $850K of debt will add a minimum of 3.9M sh to AXIM's OS.
As with other companies with convertible notes at a very low conversion price, I expect that TL-66 will use VNDM or VFIN to handle the sales.
Doubt me about the dates and the amounts? See the following from page 14 of the 10-Q:
https://www.sec.gov/Archives/edgar/data/1514946/000107878216003849/f10q093016_10q.htm
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