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EPISODE 009
— WT3 (@WT3Podcast) June 27, 2024
"You cannot do it in any other way. I don't know of any other startup that hasn't had troubles, hasn't had difficulties." - @OckertLoubser of @CoDeTechCC.
Topics: Building a tech empire, startup challenges & more!
HOSTS: @CharlesAlgar @thomas_broek#WT3podcast pic.twitter.com/2PuAbb58Dd
This company is all talk. They've been working on this thing for over 13 years. Maybe I can dump my bags in another 5. You can't fix stupid.
$ARAT all the way!
I'll believe it when I see it.......
Thanks for posting. Good to see them starting a newsletter. Some comments:
1. Expotential revenue growth in 2024. We are already midway through 2024.3
2. Great to see them using 3 firms to pursue NASDAQ filing. Looking forward to timeline.
3. New website looks great.
We are still due. 2024.2 10Q
Good luck to all.
Arax Corp’s 1st EDITION NEWSLETTER
https://medium.com/@AraxCorp/arax-corps-1st-edition-newsletter-609dfedda7a8
Welcome to the first edition of ARAX’s Newsletter! We’re excited to begin this adventure, sharing insights, updates, and innovations with our community.
Dear Valued Investors and Community,
Welcome to the first edition of the ARAX Holdings Corp. Newsletter! We’re excited to begin this adventure, sharing insights, updates, and innovations with our stakeholder community. In our inaugural edition, we delve into the pioneering advancements we’ve made in applying our technology to real-world use cases across enterprise data management, blockchain technology, and decentralized infrastructure networks. Stay tuned as we unveil the groundbreaking potential of ARAX’s enterprise blockchain-based ecosystem (BaaP). This innovation is set to transform DePIN applications, decentralized finance, and our latest projects in smart cities and smart buildings to be deployed on the revolutionary Lunaº Mesh technology. It also includes our efforts to meet the regulatory standards set by the EU’s Ecodesign for Sustainable Products Regulation and more. Together, let’s revolutionize the way industries operate and thrive in the digital age!
So, here we go:
We are proud and happy to update you on the significant progress we have made at ARAX Holdings Corp. over the past year and to share the new use cases currently in the making. As the board of directors of ARAX’s technology, we feel it is our responsibility to keep you informed and updated on our latest activities and developments.
Over the past year, ARAX has made significant strides in transforming enterprise data management and blockchain technology. Our pioneering solutions, developed on the Core Blockchain Enterprise Network (BaaP) and integrated with CorePass and Lunaº Mesh, have markedly improved efficiency, transparency, and security. These advancements demonstrate the revolutionary impact of our technology across various sectors:
🔹Manufacturing: Enhancing resource recovery, supply chain logistics, and optimization.
🔹Smart City and Building Solutions: Implementing solutions for renewable energy and decentralized power infrastructure (DePIN).
🔹Asset Management: Strengthening cybersecurity and business intelligence.
🔹Finance: Innovating in decentralized finance (DeFi), traditional finance (TradeFi), and DAO-based risk management, including on-demand insurance underwriting.
🔹Regulatory projects for data analytics
Moreover, we’ve made considerable advancements in our Decentralized Physical Infrastructure Networks (DePIN) platforms, providing robust and dependable connectivity solutions. These advancements have revolutionized the decentralization of existing networks and their integration with the innovative Lunaº Mesh infrastructure. As we continue to drive innovation, our focus remains on expanding the reach and adoption of our enterprise blockchain solutions (BaaP), ensuring that ARAX remains at the forefront of the digital transformation landscape and the drive towards real-world asset (RWA) and real-world process (RWP) tokenization.
Use Cases in the Making:
1. Tuzla Smart City Pilot Project:
o This project in Romania aims to leverage our innovative technologies, including blockchain, IoT, AI, and decentralized physical infrastructure networks (DePIN), to establish a smart city, starting with intelligent street lighting. This initiative is a gateway for future smart city integrations.
2. Commodity and Metals DeFi Projects:
o Focused on enhancing the efficiency and transparency of commodities and metals trading, starting with the copper industry. This project integrates blockchain, smart contracts, and DePIN. It revolutionizes the trading process, ensuring security, transparency, and DAO-based stable and secure transactions using the RWA tokenized reward platform.
3. Use Case Smart Building:
o This project leverages cutting-edge blockchain and decentralized technologies to revolutionize enterprise data management by decentralizing existing infrastructure and software. It integrates seamlessly with ARAX BaaP and the Lunaº Mesh Platform. By merging blockchain, artificial intelligence, and the Internet of Things, we forge a robust, secure, and efficient framework suitable for a myriad of applications.
4. EVP (Environmental Vehicle Passport) and DPP (Digital Product Passport) Projects:
o The product is currently the only blockchain-based cradle-to-grave platform to guarantee adherence to Euro 7 standards for vehicle emissions and strengthen the EU’s Ecodesign for Sustainable Products Regulation, enhancing environmental sustainability. This product and service SaaS platform focuses on creating a comprehensive data repository for product sustainability and real-time monitoring of CO2 footprints.
5. Integration with Third-Party equipment and infrastructure:
o This project will use advanced blockchain and IoT technologies to improve retail, logistics, and asset and resource management in general. It will do this by working with third-party infrastructure and equipment like access control, checkout systems, pay points, ATMs, utility management and measuring equipment, renewable energy solutions, satellites, tracking devices, and other connectivity platforms, to name a few. It includes real-time tracking and management of goods, smart trolleys and carts, connectivity, and compliance with environmental regulations.
Announcing Our New Website: ARAX.cc!
We are excited to announce the launch of our new and improved website at ARAX.cc This revamped platform offers a comprehensive overview of ARAX’s products and services, showcasing our capabilities in enterprise data management, blockchain technology, and decentralized infrastructure. The new website is also mobile-friendly, ensuring you can explore detailed information about our innovative solutions, stay updated with the latest news, and discover how ARAX is transforming industries, all from your mobile device. Visit us today to learn more about how we can help your business thrive in the digital age!
Proposed Uplisting to NASDAQ :
With a large part of the ARAX BaaP now being operation, use cases starting to pile up, resulting in exponential revenue growth expected to follow in the second half of 2024, we are excited to announce that we’re in the process of preparing ARAX Holdings Corp. for uplisting to the main board of NASDAQ. We have engaged with three investment banks for proposals to guide us through this process. As part of our strategy, we are positioning ourselves to acquire and deploy revenue streams that will bring stable income to the business. This will have a direct impact on our shareholder value. As we wrap up our first edition of the ARAX Holdings Corp. Newsletter, we extend our thanks for taking the time to read about our exciting journey and innovations. Your support and interest drive us to continuously push the boundaries of what’s possible in enterprise data management and blockchain technology. We look forward to sharing more updates and breakthroughs with you in the future.
For media inquiries, please contact:
Email Address: press@arax.cc
Originally published on: EIN Presswire
Safe Harbor Statement Under the Private Securities Litigation Reform Act of 1995
Certain statements contained in this report may be construed as “forward-looking statements” as defined in the Private Securities Litigation Reform Act of 1995 (the “Act”). All statements that are not historical facts are “forward-looking statements.” The words “estimate,” “project,” “intends,” “expects,” “anticipates,” “believes” and similar expressions are intended to identify forward-looking statements. Such forward-looking statements are made based on management’s beliefs, as well as assumptions made by, and information currently available to, management pursuant to the “safe harbor” provisions of the Act. These statements are subject to certain risks and uncertainties that may cause actual results to differ materially from those projected on the basis of these statements. Investors should consider this cautionary statement and furthermore, no assurance can be made that the transaction described in this Report will be consummated. Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date made. The Company also undertakes no obligation to disclose any revision to these forward-looking statements to reflect events or circumstances after the date made or to reflect the occurrence of unanticipated events.
For any questions or further information, please feel free to get in touch with us via email at investors@arax.cc. Thank you and stay tuned!
It's time for ARAT to finally do something.
It's been a long time..........
Almost that income from their crypto street lights
To cram all the good stuff in.......
2024.2 NT 10 Q out. Need more time.
No 2024.2 10Q. No 2024.2 NT 10Q which is SEC required when being late. Looks like new CPA isn't any better than last one.
Let’s do this this. So thin on news we can get to 3.00
By my count, 2024.2 10Q is due tomorrow. Hope new CPA meets target date.
Doug brought another non money making co to the public…..failed piece of garbage (failed in the sense they don’t make money)
Isn't that the only point?
They've master tweeting - time to move on to making money.......
When are these guys going to make money?
Street light after all this? Goodness gracious
Whatever they are selling, ititss not working........
Photo of lights
https://t.me/codetechcc/1205
ARAX & Romanian Municipality of Tuzla devise a DePIN Smart City Plan using intelligent
The 1st — Private-public partnership with the Tuzla Municipality in Romania to implement a smart city solutions platform. By utilizing the DePIN platform.
Tuzla, Romania — May 28, 2024 — ARAX Holdings Corp. is pleased to announce a groundbreaking private-public partnership (PPP) with the Tuzla Municipality in Romania to implement a smart city solutions platform. By utilizing the Decentralized Physical Infrastructure Network (DePIN) platform economy and ARAX’s cutting-edge blockchain, IoT, and AI technologies, this initiative aims to transition Tuzla into a model smart city.
Smart City Solution Proposal for Tuzla, Romania
Tuzla, a charming commune in Constan?a County, on the Black Sea shore, Romania with a population of just over 7,000 people, is set to become a bustling hub for commerce and tourism. However, like many cities around the world, Tuzla faces challenges in optimizing its resources to expand infrastructure within its borders, creating demand, and increasing revenue for the municipality. At the same time, it aims to save operational costs by implementing optimal solutions such as, intelligent street light management, decentralized connectivity, utility meter asset management, waste management, renewable energy consumption, decentralized data storage for reporting, and the management of supplying and distributing commodities
To address these challenges and transform Tuzla into a smart city prioritizing sustainability and efficiency, ARAX Holdings Corp. proposes implementing technological solutions. These solutions will not only improve the quality of life for residents but also attract more visitors to the city.
In a conversation with Tuzla’s Mayor, Re?it Taner, we discussed implementing the ARAX Smart City DePIN and blockchain-based RWA and RWP management platform, integrated with the CorePass decentralized digital identity system for secure data storage, scalability, and accountability. Mayor Taner shared his insights on the matter.
This ecosystem and infrastructure introduces intelligent street lighting and urban development that create jobs, leverage connectivity and income opportunities for our community, and boost tourism. Taner Resit — Tuzla Mayor
Following discussions with the municipality of Tuzla, the mayor has approved the project to proceed with phases 1, 2, and 3. This ambitious project, leveraging smart street lighting and Lunaº Mesh for sustainable urban development, represents a significant step in the transformation of Tuzla into a model smart city.
Project Overview and Objectives
Objective:
To establish a model for smart urban development in Tuzla, Romania, by implementing a pilot project centered around intelligent streetlights, using ARAX’s state-of-the-art technologies in blockchain, IoT, and AI. This project will demonstrate the potential for broader smart city integrations and set a scalable framework for future deployments.
Overview:
This initiative will commence with the deployment of smart streetlights powered by renewable energy, connected through the Internet of Things (IoT), and secured using blockchain technology. The project aims not only to provide the required street lighting and enhance urban efficiency by providing secure connectivity and communication, reduced energy consumption, and improved city services, laying the groundwork for future smart city applications.
Project Phases
Phase 1: Planning and Feasibility
Stakeholder Engagement: Conduct workshops and meetings with local authorities, community leaders, and potential technology partners to gather input and align project objectives with community needs.
Needs Assessment: Perform a comprehensive analysis of the current urban infrastructure, identify key areas for improvement, and define specific targets for the intelligent streetlight implementation.
Technical Feasibility Study: Evaluate the existing urban grid and telecommunications infrastructure to integrate 2000-watt renewable energy systems and IoT devices without disrupting current services.
Financial Feasibility Study: Consider a community-funded software and infrastructure services platform, where, in cooperation with the Tuzla Municipality, we will evaluate an innovative implementation of a DePIN that showcases a visionary approach to community engagement and resource management.
Generalized architecture of the Luna° Mesh Base Node
Phase 2: Pilot Deployment
Renewable Energy Implementation: Equip each streetlight with vertical axis wind turbines, solar panels, wind controllers, hybrid inverters, energy storage batteries, and a backup connection to the electricity grid.
Smart Connectivity Deployment: Install Lunaº Mesh network nodes, microwave radio bridges, WiFi access points, LPWAN gateways, and decentralized storage platforms for robust IoT connectivity.
Blockchain Integration: Utilize ARAX BaaP for secure, decentralized operations, incorporating joint mining, decentralized storage platforms, CorePass digital identity, and NFT-enabled blockchain architecture for IoT asset authentication.
Luna° Mesh generalized networking scheme: Base Nodes are interconnected via microwave bridges, Each Base Node serves a group of Light Nodes and a set of sensors, meters, and IoT devices, which are interconnected via an LPWAN mesh.
Phase 3: Expansion and Integration
Scalability Plans: Based on pilot results, expand the network of intelligent streetlights across Tuzla and integrate additional smart city solutions such as smart parking, waste management, WiGig access, and public Wi-Fi.
Integration with Municipal Services: Collaborate with local authorities to integrate these technologies into public service management, enhancing overall urban efficiency and responsiveness.
Future of DePIN Solutions and the Platform Economy
DePIN and the Platform Economy:
Decentralized Physical Infrastructure Networks (DePIN) represent the future of urban and economic development, enabling a shift from centralized to decentralized management of essential services. DePIN solutions are poised to revolutionize how cities like Tuzla manage resources, optimize services, and engage with their communities. By decentralizing the infrastructure, Tuzla can achieve greater efficiency, reduce costs, and create new economic opportunities for itself and its community.
The Sharing Economy and Private-Public Partnerships:
The success of DePIN solutions hinges on fostering strong private-public partnerships. In Tuzla, this collaboration will bring together ARAX Holdings Corp., the municipality, and the public to share resources, knowledge, and responsibilities. This shared economy model incentivizes residents and businesses to contribute to the city’s digital infrastructure, enhancing community engagement and ensuring the equitable distribution of economic benefits.
DePINs rely on tokens, like the Core Token, to power the network. The Core Token Utility solution acts as a reward for individuals and entities that contribute resources such as Lunaº Mesh, Wi-Fi hotspots, decentralized storage, and network data collection and management services. These utility tokens can also be used to pay for services within the Core Ecosystem, such as data access, cloud storage, and more, creating a self-sustaining ecosystem that drives continuous improvement and innovation.
Implementation Strategy
Technology Integration:
Establish a comprehensive Lunaº Mesh network to ensure seamless IoT connectivity across the urban landscape. Utilize ARAX BaaP for secure, decentralized operations, leveraging Core Blockchain technology for real-time data analytics and smart contract functionalities.
Pilot Operation:
Implement systems to monitor performance and dynamically adjust settings to optimize energy usage and light output based on environmental conditions.
Establish channels for continuous feedback from citizens and stakeholders to refine and adapt the project based on user experience and community impact.
Future Development:
Plan for the gradual integration of other smart technologies based on the success of the pilot project.
Emphasize the development of solutions that enhance environmental sustainability and urban livability.
Addressing Smart City Challenges
Data Privacy and Security: Integration of CorePass with ARAX’s digital management platforms ensures encrypted data transmission and storage, robust authentication protocols, and full compliance with international data protection regulations.
Inclusive, Shared Economy: Engage a local workforce for the installation and maintenance of the smart infrastructure, fostering local employment, and ensuring that economic benefits are distributed throughout the community.
Optimization for a Tuzla Data Economy: Utilize data collected from intelligent streetlights and other IoT devices to optimize municipal services such as traffic management, environmental monitoring, and public safety.
Summary
This PPP cooperation outlines a transformative approach to urban management and infrastructure development through the integration of advanced technologies in Tuzla. By leveraging ARAX’s innovative solutions, the pilot project aims to set a benchmark for smart cities, emphasizing sustainability, efficiency, and community involvement
The collaboration between ARAX Holdings Corp. and the municipality of Tuzla, supported by the involvement of the public, is essential for achieving the common goals of sustainability, efficiency, and innovation in urban development. This project is poised to set a global benchmark for future smart city initiatives.
For media inquiries, please contact:
Email Address: press@arax.cc
Smart street lights are on the near horizon as a huge market place for companies with Arax's technology. San Diego, Los Angeles, and Chicago are currently investing in smart street lights. Street lights typically are responsible for 25 to 35% of a city's electric bill. Smart street lights can reduce street lighting costs by over 25%.
Every city in the world has cost saving opportunities by utilizing smart street lighting applications. Arax just needs to find the path to being a leader in this market place. Hopefully, that starts in Tuzla
So they are selling street lights for income?
That is great, nice progress.
ARAX Holdings Corp. Partners with Tuzla Municipality for
Smart City Project
On May 24, 2024 – ARAX Holdings Corp. entered into a material Private Public Partnership with the Tuzla Municipality in Romania for the development of a Smart City project. With the approval of the project phases, ARAX Holdings Corp. and the Tuzla Municipality will begin the detailed implementation of planning, feasibility studies, and the pilot deployment of intelligent street lighting systems integrated with Lunaº Mesh and ARAX BaaP technologies. The workgroup will include representatives from Tuzla Municipality, ARAX's technical team, and a Tuzla-based contractor for the commissioning and maintenance of equipment. Together, the partnership will develop a detailed project plan encompassing the three phases outlined in ARAX's Blueprint Proposal. This ambitious project, focusing on Intelligent Street Lights and Lunaº Mesh for Sustainable Urban Development, will be executed as follows:
https://www.sec.gov/Archives/edgar/data/1566243/000175392624001025/g084258_8k.htm
8K out today. Project agreement with small Romanian city utilizing Luna Mesh and other Arax applications.
Looks like they are dumping some more...........
Thanks,accountant dumping there shares
OUCH!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!
Enough with the bullchit twitter posts and do something!!!!!!!!!!!!!!!!!!!!!!!!!!
8k out. Fired prior accountant and hired new one
ARAX HOLDINGS CORP
FORM 8-K
(Current report filing)
Filed 05/06/24 for the Period Ending 05/05/24
https://www.otcmarkets.com/filing/conv_pdf?id=17512117&guid=DLQ-kFgc13IqJth
ARAX HOLDINGS CORP
FORM 10-Q
(Quarterly Report)
Filed 05/02/24 for the Period Ending 01/31/24
https://www.otcmarkets.com/filing/conv_pdf?id=17505136&guid=_LQ-kFgc13B1Ghh
OTC Updates
@OtcUpdates
🚨 $ARAT
💰1.0100
Pink Current, AS: 950M, OS: 127M, US: 4.2M
Update Delay: 72 hours
❗Grace Period Removed
🟢Delinquent SEC Reporting Badge Removed
Tier Updated:
🔴 Pink Limited Information
🟢 Pink Current Information
I wish I knew, hopefully we will begin seeing some forecasting “soon”
Thank you. How much do you think that would generate?
Software Licensing is one source of income.
Shell should have been removed a year ago. In all seriousness, how does this business make money as that is all people on the Nasdaq will care about. Thanks
10Q filed now, so they should be back to current tomorrow. Good to see.
$Arat will be pink current anyday now imo. Waiting for there 10-Q for 1st quarter to post.... The big news is it is officially a real company.... Shell symbol has been removed... Better load up kids..
Try scrolling down to Hug Life’s report on the company. Obviously no one has done any real research behind this company. Again please explain the below report about the owners?
ARAX HOLDINGS CORP
FORM 10-K
(Annual Report)
Filed 04/26/24 for the Period Ending 10/31/23
https://www.otcmarkets.com/filing/conv_pdf?id=17483354&guid=25Q-keBRfG8WJth
Super going back to pink current getting ready for uplisting to Nasdaq .
10 K for 2023 is out
I heard Jamie dimon talking about smart contracts and that Bitcoin is a Ponzi scheme. He likes the blockchain and the tech behind being as being a huge asset. Anybody know what to talk about a smart contract is about? The terminology is familiar.
Our.coins moving nicely
https://app.ping.exchange/markets
lol a month ago you were positive now you are short
Blueglasses68
Re: None
Sunday, March 10, 2024 1:58:02 PM
Post# of 5667
Can’t wait to see how big this gets!! Fingers crossed boys!
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Case A-20-825346-B in the
Eighth Judicial District Court Portal
https://www.clarkcountycourts.us/Portal/
11/24/2020
Motion for Appointment of Custodian
12/30/2020
Order 201230 - ARAX Order Appointing Custodian
Parties Present 9:30 AM: Chasey, Peter L. - Attorney (Lazar's Attorney)
Minutes: All appearances made via the BlueJeans Videoconferencing Application. Colloquy regarding typographical error in pleadings that changed "ARAX" to "ARAT". Court stated its findings and ORDERED, Motion for Appointment of Custodian GRANTED. Mr. Chasey to prepare the order and clarify the typographical error.1/11/2021
Motion for Order
Motion to Require Written Proofs of Claim
01/12/2021
Clerk's Notice of Hearing
Clerks Notice of Hearing
01/13/2021
Certificate of Service
Certificate of Service
02/18/2021
Motion (9:30 AM) (Judicial Officer Allf, Nancy)
Motion to Require Written Proofs of Claim
There being no opposition, Motion Granted
03/23/2021
Affidavit of Publication
Filed by Scott Sibley, Publisher of Nevada Legal News
03/31/2021
Motion for Order
Motion to Bar Unasserted Claims and Terminate Custodianship
03/31/2021
Clerk's Notice of Hearing
"Please be advised that the Motion to Bar Unasserted Claims and Terminate above-entitled matter is set for hearing as follows
Date: May 5, 2021
Time: 9:00 AM"
Location: RJC Courtroom ...."04/20/2021
Status CheckJudicial Officer
Allf, NancyHearing Time
3:00 AMComment
wirtten proofs of claiim (that is how the clerk wrote that sentence)
Journal Entry
"Court further finds after review that on March 31, 2021 a motion to bar unasserted claims and Terminate Custodianship was filed. The motion stated that the Custodian served Notice of Entry of Order via publication, which was completed on March 23, 2021. The Motion also stated that no proofs of claim have been filed or otherwise submitted to the Custodian."
05/05/2021
MotionJudicial Officer
Allf, NancyHearing Time
9:00 AMComment
Motion to Bar Unasserted Claims and Terminate Custodianship
05/05/2021 Order
Order barring unasserted claims and terminating custodianship.
“Pursuant to a revision to a certain Consulting Agreement dated October 8, 2013, between Thru Pharma and Strategic Universal Advisors, LLC (“Strategic”), as amended effective January 17, 2014, on or about February 9, 2015, and most recently on October 20, 2015, with full effect as of April 1, 2015 (the “Consulting Agreement”), Thru Pharma and Strategic agreed that the intent of the Consulting Agreement ab initio was to provide Strategic with a 3% equity ownership of Thru Pharma in the event that a PUBCO M&A transaction did not occur prior to the end of the Consulting Agreement. Thru Pharma and Strategic agreed and stipulated that 753,504 shares of the Company would equal 3% of Thru Pharma as the equity payment under the Consulting Agreement, with transfer subject to the further provisions stated below. As Thru Pharma was the sole beneficiary of the services provided by Strategic under the Consulting Agreement, no part of the value of the consideration for services provided under the Consulting Agreement has been recognized as an expense by the Company.
In connection with earlier amendments to the Consulting Agreement, Strategic granted to Mr. Keough, a control person of the Company and Thru Pharma, an irrevocable proxy (the “Irrevocable Proxy”), to vote all of the common stock in the Company under certain conditions. That proxy no longer exists under the terms of the most recent amendment.
As part of the currently amended Consulting Agreement, Thru Pharma agreed to transfer 753,504 Company shares to Strategic upon the closing of a merger or acquisition (an “M&A Transaction”) of a public entity, resulting in Thru Pharma being the controlling owner of the entity that was the subject of the M&A Transaction, and Thru Pharma would cause such entity to also issue to Strategic a stock warrant to purchase 600,000 (six hundred thousand) shares of common stock of the entity that was the subject of the M&A Transaction. Such warrant will be of five-year duration, exercisable at $0.10 per share, and shall vest in four equal amounts of 150,000 shares with the first annual vesting to occur 60 (sixty) days following the completion of the PUBCO M&A Transaction, as well as other routine terms.”
“Effective July 1, 2015, Arax and Catalyst Funding, LLC, entered into an Original Issue Discount Revolving Secured Convertible Promissory Note (the “Catalyst Note”) and a Securities Purchase Agreement (the “Catalyst SPA”). The transaction is secured by a grant of security interest to 100% of the Company stock held by or for Thru Pharma. The Catalyst Note and Catalyst SPA are intended to facilitate funding essential work relating to reporting and accounting costs. The total available funds are $200,000, and the Company has only drawn $75,000, and for which the Company is obligor. A Commitment Fee of Company stock in the amount of 35,294 shares was authorized for issue to Catalyst as part of the transaction recorded as an initial debt discount of $14,118. In the event that the Company is unable to timely make payments under this Agreement, Catalyst has the option of gaining control of the Thru Pharma shares in the Company.
On March 1, 2017, the Company’s majority shareholder, Thru Pharma LLC entered into a merger agreement with Kasten, Inc., a Nevada corporation (“Kasten”), whereby Kasten was the surviving corporation. As part of the merger agreement, the shares in the Company held by Thru Pharma were withheld from the agreement and the Company was no longer identified as a subsidiary of Thru Pharma thereby effectively spinning out the Company and excluding it from the surviving entity. Kasten has been identified as party to and co-guarantor of the Catalyst note. The Company is in the process of settling the note with Catalyst whereby funds used to satisfy the note are being provided by its Chief Executive Officer, Steven J. Keough whereas Mr. Keough will be effectively purchasing the 8,000,000 common shares in the Company and the Arax Holdings Corp receivable (listed on the books of the Company as a related party payable in the amount of $211,149 for the nine months ended July 31, 2016) in exchange for extinguishing the note. The 8,000,000 shares are currently collateralizing the Catalyst loan. Upon satisfaction of the note, the Company’s related party payable will be due to Mr. Keough, and he will become the majority shareholder in the Company.
--------------------------End Hug Life Section
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