GEMXX Corp (GEMZ)

[benlurkn]

From last 10Q concerning toxic debt ....


b. On July 8, 2016 the Company, upon the request of the debenture holder issued, 92,674,300 free-trading shares
of its common stock upon partial conversion of the remaining outstanding $7205 principal and $2074.84 accrued
and outstanding interest on a 7.5% Convertible Debenture in the principal amount of $27,500 issued in April 2015
to a single unaffiliated party. The conversion worth $7,200 principal and $2,067.43 accrued interest was done at
$0.0001 per share. After the conversion and confirmation by the note holder, the principal due and outstanding
was $5 and accrued interest outstanding $7.41; and the outstanding principal amount of $5 and as well as the
accrued and outstanding interest amount of $7.41 were both paid off in full on July 14, 2016.