Cross Atlantic Commodities Inc. (fka CXAC)

[SAMadMoney]

Interesting Find

First off i must THANK cdnkid10 for reinstating that we have a Convertible note of $700,000. He opened my eyes.

http://investorshub.advfn.com/boards/read_msg.aspx?Message_id=41237349

I even found it in one of our shareholder updates from JORGE

"The strategy is to increase revenue at CXAC in a dramatic manner and eliminate our convertible debt, which is approximately
$700,000 dollars."

Link found here: (in the 4th paragraph)
http://www.crossac.com/images/CEO_letter_july_30.pdf

Now, I bet your all confused as to why this is a good thing. Well let me show you.

We have 2 Convertible Notes:

one issued at 600,000 and another at 150,000. Now some of you may have already figured it out... how does 750,000 go to approximately 700,000.

Went back through the financial reports and you can find Jorge has been paying down one of these.

As of 31 December the balance was 566,505 + 150,000 Total 716,505

Link here: (page 13)
http://www.pinksheets.com/otciq/ajax/showFinancialReportById.pdf?id=20746

Now he made the following announcement July 30th;

"The strategy is to increase revenue at CXAC in a dramatic manner and eliminate our convertible debt, which is approximately
$700,000 dollars."

So now it could be under $700,000 or possible still $716,505 regardless there has been money paid on this. And as you can see from his statement this is one of his priorities to get knocked off his checklist.


Shareholder update 04SEP2009
Within 15 business days we will be updating our financials to have them current, and have our outside counsel issue an Opinion Letter on our Disclosures and Financials to receive Pink Sheets Preferred Status. This will remove any trading restrictions at most firms and we hope that by Year's end we can apply to the OTCBB to again raise our profile to a larger investing audience.

Link found here: (2nd Paragraph) http://www.crossac.com/images/ShareholderUpdate_9-04-09.pdf


Also i would like to point out

A/S 6,500,000,000
O/S 6,350,965,268

I called friday, and i saw a few others post it on the board. The Rumor for diluting is complete BS.

Ungagged TA:

Florida Atlantic Stock Transfer, Inc.
7130 Nob Hill Road
Tamarac, FL 33321
[phone]

343 Board marks as of friday after market close.


This is my DD, these are my conclusions. Take a look at everything for yourself and come to your own conclusion. I took an extra step to show you where i pull my information.