Gifa Inc (GIFX)

[happykat]

Hey, DJ, I missed those notes when I scanned the 10K although I did notice the sale of 5 million shares, so good find on your part. It seems the company borrowed a very conservative amount of money (ultimately amounting to $5400 in 2013 and $4400 in 2014) because most of the debt was paid off in the end ($22,700). Therefore, the notes didn't convert into that many shares (a little over 10 million). It's extremely unusual for a company on the OTC to pay off a convertible to begin with, so the CEO was definitely trying to be as responsible as possible and did not cause the kind of death spiral we're used to seeing down here. If that's all there is in the 8 year history of the company, I can live with that.