Vivos Inc (RDGL)

[diannedawn]

If

Financing is not an issue for these guys, this is a cure for cancer. We trade penny
stocks these men deal in multi billion dollar businesses. The men involved have integrity and vision plus the experience and funds to make it happen.

Then WHY on earth did they do a financing deal with JOHN FIFE...TYPENEX???
AND THEN DEFAULT TO BOOT???

Interesting that the same day you said this, Typenex was filing a complaint...

Has the company even mentioned this yet?

"AMIC Response
74. Rather than paying the amount due under the Note by the Maturity Date, in a letter dated April 28, 2015 (“AMIC Letter”), AMIC claimed the October 14, 2014, October 17, 2014, December 2, 2014, December 19, 2014, December 30, 2014, and January 5, 2015 share issuances (collectively, the “Share Issuances”) were defective and not fully paid because such shares were issued below the par value of the Common Stock.
75. The AMIC Letter alleges that Typenex received 87,918,556 more shares of Common Stock than if AMIC had issued those shares at par value (the “Excess Shares”).
76. In addition, AMIC alleges that the value of the Excess Shares is $187,918.56 (the“Excess Share Value”).
77. AMIC had absolute control over all issuances to Typenex, including the Share Issuances AMIC claims were defective.
78. The AMIC Letter demands that Typenex either: (a) return the Excess Shares to AMIC for cancellation; or (b) cancel the Note and return to AMIC an additional 51,357,556 shares of Common
Stock for cancellation.
79. The AMIC Letter gives Typenex a ten business-day deadline to reply or else AMIC would automatically apply the second option.
80. Using AMIC’s self-serving and inaccurate balance (which AMIC claims is more than $200,000
less than the balance stated in the Default Notice), the AMIC Letter concludes that despite two
events of default resulting in the application two Default Effects, the application of failure to
deliver fees for five missed installment payments, and accrual of interest at the Default Rate from
November 17, 2014, the Note would be cancelled and Typenex would still owe AMIC additional shares
of Common Stock.
81. The AMIC Letter closes by stating that because the outstanding balance on the Note is not
enough to satisfy the Share Value Deficiency, AMIC will cancel the Note and then instruct its
transfer agent to notify Typenex’s clearing broker to deliver shares back to AMIC to make up for what AMIC claims is the deficiency between the Note Balance and the Excess Share Value.
82. In short, AMIC’s response to its defaults under the Note, and receipt of the related Default Notice, was to completely ignore it, artificially and erroneously claim for the first time a reduced outstanding balance and to concoct a concomitant self-serving and ultimately unsupportable legal theory, all in an attempt to somehow erase its obligations under the Note and Transaction Documents and draw attention away from its clear breaches of the Transaction Documents and events of default under the Note.
83. Nowhere in the AMIC Letter does AMIC address the application of the Default Effect or the accrual of interest at the default rate or provide any support or justification for its purported outstanding balance.
84. The AMIC Letter also does not address the fact that the Maturity Date on the Note lapsed more than a week prior to sending the AMIC Letter and that AMIC has not repaid the Note.
85. The process outlined in the AMIC Letter with respect to the Share Issuances is contrary to procedure set forth in Delaware law, and AMIC’s clear intent and goal is to try to
obfuscate the issues surrounding its clear defaults under the Note."