In the (Sept 27th PR) the company communicated info on debt and share structure.
See below as per PR
"To assist with our new operations in Papua New Guinea, Blackbridge Capital has extended a new facility of $100,000, which as noted in our Form 8-K filed on September 12, 2016, had been drawn down by $25,000 leaving a further facility of $75,000 outstanding. This facility is not to be confused with the $105,000 convertible note to Blackbridge Capital which has been repaid in full via its conversion feature, this new facility with Blackbridge Capital cannot be converted for six months from each drawdown. Our total outstanding shares have increased since last reported due to such conversions. As of September 25, 2016, we had a total of 254,513,362 shares of our common stock outstanding. The Company is attempting to reduce its reliance on convertible notes and we believe the new revenues from Rigo will help ease such reliance in the near future."
In the two months following, the OS grew by around 200 mil. Not sure if that number includes Warren's new 25 million shares at .006.
In either case those shares converted should have paid 150-200k worth of debt. That is significant liability off the books.
Company also may have issued shares to auditors and lawyers to pay for the upcoming yearly expensive audited financials.
There was a total of 88k of old debt (3 debtors) that may have decided to convert prior to 2017.
Company should update shareholders on current debt situation and provide guidance on future debt as it works on becoming cash flow positive.
