MedSmart Group Inc (MSGP)

[Moeclay]

Latest 10-k:

"On June 19, 2013, the Company issued an aggregate of 2,200,000,000 shares of Class A common stock to Mr. Glynn as repayment of $88,000 of convertible debt and accrued interest. These shares contain a restrictive legend, which will limit Mr. Glynn’s ability to liquidate these into the open market.

On June 26, 2013, the Company issued a Promissory Note to Mr. Glynn for $180,000 representing earned and unpaid deferred compensation. This note matures on July 1, 2013 and upon default becomes convertible into Class A common stock at a conversion price of 50% of the lowest closing price of the last ten trading days prior to notice of conversion. As of September 30, 2013, the outstanding balance on the Promissory Note was $180,000 plus accrued interest of $0.

...On June 30, 2013, Mr. Glynn assigned the remaining balance of his notes and deferred compensation to mmg pursuant to the terms of the LOI between himself and mmg executed on May 31, 2013. The outstanding balance at December 31, 2013 was $0."