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Created: 09/07/2018 10:41:57 AM - Followers: 284 - Board type: Free - Posts Today: 18

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
#22267
Correct.Just another pump and dump. chumfm 08/19/2022 03:55:26 PM
#22266
You think to much. It was a pump rudyboy 08/19/2022 03:52:59 PM
#22265
Well , That will make it mcgbyron 08/19/2022 03:48:25 PM
#22264
It might get there.Very bad communication skills being chumfm 08/19/2022 02:58:28 PM
#22263
People paid 3 cents for this in early Midwestrader 08/19/2022 02:54:13 PM
#22262
Keep dreaming, this is going lower and lower rudyboy 08/19/2022 02:31:55 PM
#22261
I think so an then Ostendo com in frans 08/19/2022 02:31:07 PM
#22260
Accumulation is higher than it was in the Deano361 08/19/2022 02:28:14 PM
#22259
Lol. rudyboy 08/19/2022 02:25:52 PM
#22258
Disgusting action and drag session here , sold TimeFades 08/19/2022 02:25:29 PM
#22257
No manipulation, people selling because delay after delay. rudyboy 08/19/2022 02:23:58 PM
#22256
sept 22 we go .01 X 1.000 frans 08/19/2022 02:23:26 PM
#22255
Wrong. SYSX’s mining equipment is outdated and I skichic 08/19/2022 02:12:52 PM
#22254
No worries , small sellers so all manipulation Deano361 08/19/2022 02:09:29 PM
#22253
$SYSX>>>Manupulation On Top! dennisv 08/19/2022 12:54:31 PM
#22252
I don't have a mortgage zig zag 08/19/2022 12:31:31 PM
#22251
Does this ring a bell?? Carjockey2 08/19/2022 12:15:40 PM
#22250
This will be your reward for buying and Horsts 08/18/2022 05:00:55 PM
#22249
Bought more today, look forward to buying more MoDoah 08/18/2022 04:30:21 PM
#22248
no good reasons to going up, meeting is konshe 08/18/2022 04:22:56 PM
#22247
$SYSX just bought more, OSTENDO deal right around Lottoplay 08/18/2022 03:56:59 PM
#22241
i love it that twitter pumping clowns know 60ftcat 08/18/2022 12:53:37 PM
#22240
Mr. Bigger spending his SYSX money in ALPS 60ftcat 08/18/2022 10:31:54 AM
#22239
This will happen today https://youtu.be/tKaYAHuWeQ4 Horsts 08/18/2022 08:53:13 AM
#22238
gotta love these twitter pumping clowns feeding each 60ftcat 08/18/2022 12:11:07 AM
#22237
Majk @DeejayMajk · 1h $SYSX Nothing changed! Deano361 08/17/2022 08:22:30 PM
#22236
And sold most off his shares with big rudyboy 08/17/2022 06:15:51 PM
#22235
After day after day red, remember from 11´s rudyboy 08/17/2022 05:05:16 PM
#22233
Indeed ! Been holding since bigger announced . Deano361 08/17/2022 04:54:15 PM
#22232
Green Days Are Coming! dennisv 08/17/2022 04:26:46 PM
#22231
Hmm.. good point! RKhan2011 08/17/2022 04:24:11 PM
#22230
Give it time. Wayne is the biggest pile Mattwould 08/17/2022 04:03:42 PM
#22229
Now 65% in red... could it be worse??? rudyboy 08/17/2022 04:02:39 PM
#22228
"investors".. 60ftcat 08/17/2022 03:39:50 PM
#22227
That’s what all sysorex investors get. https://youtu.be/tKaYAHuWeQ4 Horsts 08/17/2022 03:08:00 PM
#22226
Correct watch what happens if eth hits 2500 spotonge 08/17/2022 02:34:50 PM
#22225
the stonk is tanking and you are somehow 60ftcat 08/17/2022 02:05:31 PM
#22223
i am buying back at .01 stockstobuy 08/17/2022 01:41:33 PM
#22222
the company management is not to be trusted. 60ftcat 08/17/2022 01:13:36 PM
#22221
You get it! They’re not going to leave Aliventures 08/17/2022 01:11:51 PM
#22220
So you want to bet this will be ive1 08/17/2022 01:07:43 PM
#22219
-90% in 1 month is coming i bet 60ftcat 08/17/2022 12:49:00 PM
#22218
Just another garbage otc ticker with a lying CEO. LandPro 08/17/2022 12:47:20 PM
#22217
Now you got some volume.These tactics are very chumfm 08/17/2022 12:46:42 PM
#22215
They want to mine more Ethereum till then, so Deano361 08/17/2022 11:35:42 AM
#22214
4 X delayed is enoff frans 08/17/2022 11:21:52 AM
#22213
took my losses - out here - frans 08/17/2022 11:17:07 AM
#22211
at least no dilution and shorts get to BEIJING BILL 08/17/2022 10:55:14 AM
#22210
They don't have the votes.They are hoping people chumfm 08/17/2022 10:52:22 AM
#22209
I was on RKhan2011 08/17/2022 10:46:30 AM
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