Sixty Six Oilfield Services Inc (SSOF)

[WarMachine]

HOLY CONVERTIBLE NOTE FIASCO, 15 LOANS IN DEFAULT!!!! MUST READ

How this company can claim such ridiculous revenue and have 15 LOANS IN DEFAULT! Smells like BS IN SSOF.

3. CONVERTIBLE LOANS
The Company entered into seventeen convertible loans with a third party during beginning in December 2014 and during the 2014 and 2016 calendar years. The loans aggregate $391,666.67, have a one year maturity and bear interest at 9% per annum. They are convertible into common stock at a discount of 30% to the then current market price of the common stock. All loans prior to September 30, 2015 are in default. The Company has no and does not expect to have any means of repaying the loans according to their terms and it does not have sufficient authorized and unissued common stock to convert the loans. Furthermore, the Company does not have sufficient authorized and unissued shares of common stock to honor the conversion of the notes.
A former affiliate of the Company has an agreement to acquire the notes from the lender and, upon payment of the acquisition price, to satisfy the notes in full by means of conversion of notes
into whatever number of shares of authorized and unissued common stock the Company has available at the conversion date.

GET READY FOLKS! Massive Authorized share increase HIGHLY LIKELY and MASSIVE CONVERSIONS TO FOLLOW. IMO