Enzolytics Inc (ENZC)

[foxi]

Do you see the derivative liabilities totaling $8,795,075 in the most recent 2021 reporting period through September 30, 2021, as being a potential problem?

https://www.otcmarkets.com/otcapi/company/financial-report/312797/content

That $8,795,075 is the same number as the total derivative liabilities disclosed for the period through December 31, 2020. It looks like maybe they haven't discharged any of the old outstanding debt in 2021, which would include some with a conversion to Common shares at a rate as low as .0001 unless there's a way to change the rate?


Something I just noticed, in the latest filing (the 2020 amended filing) the very last page says:

In June 2021, the Company issued 5,000,000 shares of Series E Convertible Preferred Stock and received cash proceeds of $2,000,000.

In 2021, the Company raised an additional $950,000 in cash from subscribed Series C Convertible Preferred Stock.

https://www.otcmarkets.com/otcapi/company/financial-report/327646/content

So it would appear there is an additional sum of convertible stock in play from 2021 as well.

This is 2021 information appearing in the disclosure, which leads me to believe the latest filing is a 2022 disclosure that also happens to contain amended 2020 numbers. (ie some important sentences written in the present tense refer to Today and not Back Then)