From the last 10Q: Keep in mind that this debt was outlined in previous filings as being received from Chassman. They did not file an 8K with respect to this conversion.
4) In the period from January 1, 2006 through March 31, 2006, holders of Xechem debt converted Xechem debt (in the form of principal and interest) in the aggregate amount of $2,477,000 ($2,329,000 of which is principal and $148,000 of which is interest) into 507,475,000 shares of Xechem's common stock (exercised at conversion rates between $0.0025 - $0.0075 per share). Subsequently, in the period from April 1, 2006 through April 21, 2006, holders of Xechem debt converted Xechem debt (in the form of principal and interest) in the aggregate amount of $242,000 ($239,000 of which is principal and $3,000 of which is interest) into 76,793,430 shares of Xechem's common stock (exercised at conversion rates between $0.0025 - $0.0075 per share). The total conversions from January 1, 2006 through April 21, 2006 represented approximately 61% of Xechem's then issued and outstanding stock.
(5) Through April 21, 2006, Xechem received convertible loans totaling $680,000 from Ms. Chassman and $25,000 from a related party. The notes for these loans are currently in negotiation and will include an interest rate, conversion to common stock features and with due dates of six months to two years.
AI
