Bemax Inc (BMXC)

[I-Glow]

The CEO is paying off toxic debt with more toxic debt.

Here is a great example of what the CEO is doing - from the 10-K Subsequent Events.

"Subsequent to May 31, 2017, the Company paid off its December 28, 2016 note with Crown Bridge Partners in full for $71,500. The payment includes principle of $46,000, accrued interest and prepayment penalty."

On the note there was a immediate $6000 discount - so Bemax only received $40,000 on the $46,000 loan.

So the CEO paid $71,500 + $6000 = $77,500 for a $40,000 loan - this was for less than 6 months.

More smoke and mirrors by the CEO.

IG