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Created: 09/07/2018 10:41:57 AM - Followers: 285 - Board type: Free - Posts Today: 2

Defaulting on Loans, Possible Scandle:

Sysorex, Inc., a Nevada corporation (the “Company”), entered into a Promissory Judgment Note dated as of August 15, 2018 (the “Note”), with Tech Data Corporation (“Tech Data”), pursuant to which the Company promised to pay the principal sum of $6,849,423.42 to Tech Data. The Note provides that interest shall accrue on the balance of the Note at the rate of 18% per annum. Due to miscommunication with Tech Data, the Company inadvertently failed to pay, when due, some of the installment payments in the aggregate principal amount of $3,341,801.80, as set forth in the Note and has defaulted under the Note. 

On December 14, 2021, the Company became aware that a Confession of Judgment (the “Confession of Judgment”) had been entered against the Company in the Superior Court of the State of California, County of Santa Clara by Tech Data on September 24, 2021. The Confession of Judgement is entered for a total sum of $5,942,559.05, which is comprised of the principal sum of $3,341,801.80 and prejudgment interest in the sum of $2,600,757.25. 

Debenture Default 

The Company has sold to certain purchasers 12.5% Original Issue Discount Senior Secured Convertible Debentures (collectively, the “Debentures”) pursuant to the terms and conditions of those certain Securities Purchase Agreements entered into by the Company and certain investors. The Debentures provide that any monetary judgment filed against the Company for more than $50,000, and if such judgment remains unvacated for a period of 45 calendar days shall constitute an event of default. As a result, the Confession of Judgment could be deemed to be an event of default under the Debentures although the Company only became aware of the Confession of Judgment on December 14, 2021."
https://www.otcmarkets.com/filing/html?id=15432075&guid=qrfwkFniGBAxOth 

Q3: 65 million shares of dilution since March 


“Note 2 — Going Concern 

As of September 30, 2021, the Company had an approximate cash balance of $4.3 million, working capital deficit of approximately $10.6 million, and an accumulated deficit of approximately $28.1 million. The aforementioned factors raise substantial doubt about the Company’s ability to continue as a going concern for the next twelve months from the date of issuance of these financial statements.” 

“ Ressense LLC 

On August 4, 2021, the Company executed a six (6) month business advisory services agreement with Ressense LLC. The services to be provided include potential business activities including acquisition, merger and reverse merger opportunities. As compensation for the performance of services, the Company shall pay $25,000 per month. 

Style Hunter, Inc. 

On September 26, 2021, the Company acquired a 5% minority interest in Style Hunter, Inc. (“Hunt”). The Hunt issued 613,723 shares of its common stock: par value $0.0001 per share for $0.81470 per share for a total price of $500,000. The Company shall have a one-time option to purchase an additional $500,000 of the Common Stock (“Option”) on or before the 360-day anniversary of Closing Date as follows: (i) if the Buyer exercises its Option prior to the 90-day anniversary of Closing Date the per-share purchase price of the additional shares of Common Stock (the “Option Price”) shall be $0.81470 (a $10,000,000 Company valuation), (ii) if the Buyer exercises its Option after the 90-day anniversary of Closing Date, but prior to the 180-day anniversary of Closing Date, the Option Price will be $1.22200 (a $15,000,000 Company valuation), or (iii) if the Buyer exercises its option 
after the 180-day anniversary of Closing the Option Price will be $2.03670 (a $25,000,000 Company valuation). 

Note 15 — Subsequent Event 

On November 2, 2021, the Company entered into a Membership Interest Purchase Agreement with BWP Holdings LLC to purchase the remaining 50% interest in Up North Hosting LLC. The aggregate purchase price for the membership interest is $1.0 million in cash and 1 million shares of restricted common stock, $0.00001 par value of the Company. The restricted common stock was issued to an executive of BWP Holdings LLC who was hired by the Company on October 1, 2021, as the Company’s Chief Technology Officer (“CTO”). The Company issued the CTO a one-time sign-on bonus of One Hundred Thousand (100,000) shares of restricted common stock of the Company. The CTO will be entitled to additional shares of restricted common stock on two subsequent anniversary dates.”



 
 
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#19375
8k out last night, highlights: The closing of i_like_bb_stock 06/23/2022 01:18:51 PM
#13880
FULL EXPLANATION OF CONVERSION CRITERIA By GREAT GATSBY BeamMeUpScotty 05/25/2022 06:01:36 AM
#22123
Very Mic ll 08/13/2022 06:33:58 AM
#22122
Nice$$$ 2stubborn2quit 08/13/2022 12:29:16 AM
#22121
Look At This! >>> https://www.coindesk.com/price/ethereum/ dennisv 08/12/2022 11:48:51 PM
#22120
Up 7.5%. LOL. I, too, can pretend that SirCharge 08/12/2022 10:25:43 PM
#22119
But it didn´t. Lol rudyboy 08/12/2022 06:38:32 PM
#22118
If this breaks 0.025 cents today,then we are chumfm 08/12/2022 03:46:44 PM
#22117
We have already had the reverse split news Vipyr 08/12/2022 01:41:22 PM
#22116
Bye Mic ll 08/12/2022 12:38:56 PM
#22115
Get out!!! RKhan2011 08/12/2022 11:50:27 AM
#22114
Dollars coming!! $SYSX Babubd 08/12/2022 11:43:52 AM
#22113
you mean Reverse Split news will come like 60ftcat 08/12/2022 11:30:57 AM
#22112
Remember NOT TO MISS THE BOAT. News will magic1usa 08/12/2022 11:07:10 AM
#22111
Kek. $SYSX to da mooon. RKhan2011 08/12/2022 06:40:14 AM
#22110
The hold is annoying but no way in 2stubborn2quit 08/12/2022 12:37:06 AM
#22109
10-4 Thx RKhan2011 08/11/2022 02:14:13 PM
#22108
We were spun out of that company. Deano361 08/11/2022 02:10:30 PM
#22107
What is $INXP? Aren’t they related to $SYSX? Thought there RKhan2011 08/11/2022 01:58:48 PM
#22106
Best is yet to come! RKhan2011 08/11/2022 01:49:16 PM
#22105
Yep brotha! If they officially close Ostendo the doogdilinger 08/11/2022 10:41:21 AM
#22104
One positive note is Eth price and Elon’s Deano361 08/11/2022 10:37:45 AM
#22103
Yep Deano, worst case scenario new intel/details will doogdilinger 08/11/2022 10:33:16 AM
#22102
Wednesday should and I say that cautiously, reveal Deano361 08/11/2022 10:30:54 AM
#22101
Thanks for the intel Deano & as crazy doogdilinger 08/11/2022 10:00:02 AM
#22100
SYSX longs will WIN a landslide here!! Not Babubd 08/11/2022 09:57:08 AM
#22099
yes i_like_bb_stock 08/11/2022 09:56:21 AM
#22098
It's definitely a weird situation bb buddy, especially doogdilinger 08/11/2022 09:55:01 AM
#22097
Well IR is allowed to do exactly what Deano361 08/10/2022 10:46:58 PM
#22096
Means deal not completed but also Still on . Deano361 08/10/2022 10:45:35 PM
#22095
August 16/17 6 month consolidation ends, one year StockLogistics 08/10/2022 09:13:29 PM
#22094
I’m going to keep saying it...Holding tight$$$ 2stubborn2quit 08/10/2022 08:42:14 PM
#22093
These guys think we are stupid or something.Nobody chumfm 08/10/2022 08:07:38 PM
#22091
Even the CEO is not allowed to disclose magic1usa 08/10/2022 07:51:57 PM
#22090
Stupid. You think IR should disclose that internal magic1usa 08/10/2022 07:49:01 PM
#22089
So thats bad news imo. Time to sell rudyboy 08/10/2022 07:34:46 PM
#22088
Got response from IR after a week. Said Deano361 08/10/2022 07:11:57 PM
#22087
Indeed. Most of the time it announces for NewBornTrade 08/10/2022 05:24:21 PM
#22086
yea ugh wtf i_like_bb_stock 08/10/2022 05:00:31 PM
#22085
Only if they have something to report.August 17 chumfm 08/10/2022 03:42:28 PM
#22084
If you are wondering why we haven’t heard NewBornTrade 08/10/2022 03:26:35 PM
#22083
Ugh why havent we heard anything? theyre sec i_like_bb_stock 08/10/2022 03:21:02 PM
#22082
Best is yet to come. RKhan2011 08/10/2022 02:53:45 PM
#22081
Where is that babudt guy saying every time rudyboy 08/10/2022 02:12:35 PM
#22080
Maybe they want to announce it all during NewBornTrade 08/10/2022 01:28:09 PM
#22079
Yes, fun to play, maybe green by EOD. Mic ll 08/10/2022 01:16:55 PM
#22078
the retail is not smart enough to see 60ftcat 08/10/2022 12:58:21 PM
#22077
Wouldn't be the OTC if there wasn't any doogdilinger 08/10/2022 12:35:53 PM
#22076
Time will tell good luck to you Mic ll 08/10/2022 12:32:12 PM
#22075
Do you speak the truth Mic ll 08/10/2022 12:31:11 PM
#22074
There's always a constant & steady stream of doogdilinger 08/10/2022 12:26:08 PM
#22073
Especially with all the negative post from those Mic ll 08/10/2022 12:23:45 PM
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