Nano Mobile Healthcare Inc (VNTH)

[ptcgolf]

Very bad news....some low lights listed below

We may be considered in default of the JDF Capital, Inc. settlement agreement.



On March 10, 2017, we entered into a settlement agreement with JDF Capital, Inc. and agreed to pay a total of $300,000, with $50,000 monthly installments at the time of execution through August 1, 2017. We made the initial $50,000 payment upon execution of the agreement, however, we have not made any subsequent monthly installment payments and may be considered in default of the agreement, which would trigger the default provisions under the agreement. These provisions include a confession of judgment in the amount of $693,952.88 and the right to reclaim the outstanding warrants held by JDF. While we are working with JDF on an alternative installment program, there can be no assurance that we are not declared in default of the settlement agreement and subject to the default provisions of the settlement agreement.


Holders of Our Common Stock



As of May 4, 2017, we had 787,698,074 shares of our common stock issued and outstanding, held by 70 shareholders of record, with others holding shares in street name.


Unregistered Sales of Equity Securities



During the year ended June 30, 2016, we issued 215,820,752 shares of common stock with a fair value of $380,966 for the conversion of notes payable and accrued interest.



During the year ended June 30, 2016, we issued 400,000 shares of common stock for services with a fair value of $9,600.



On October 6, 2016, we entered into an exchange agreement with John E. Groman Group (“Groman”) pursuant to which we agreed with Groman to exchange his 811,938,579 shares of our common stock into 16,238,772 shares of Series B Convertible Preferred Stock.


Employees



We outsource all of our non-executive functions to Nanobeak, LLC. As of the date of this filing Nanobeak has 18 employees and consultants, both full and part time, most of which are shared with NASA and other contractors. The employees are not presently covered by any collective bargaining agreement.