1pm Industries Inc (OPMZ)

[surfkast]

Is Fife/Typenex still dumping shares?

He had a claim to 3.2 billion shares when the PPS was 0.0011 and there was only 613,375,126 outstanding as of June 13, 2017.

The conversion rate for a $125,000 tranche is now .00006 or over 2 billion new shares.


Authorized Shares 5,000,000,000 a/o Dec 29, 2017
Outstanding Shares 2,394,252,319 a/o Dec 29, 2017
-Restricted 115,420,786 a/o Dec 29, 2017
-Unrestricted 2,278,831,533 a/o Dec 29, 2017


(1) On May 1, 2017, the Company closed on a $1,380,000 financing transaction with Typenex Co-Investment, LLC. The Company would receive a total of $1,250,000 under the agreement with the remaining $130,000 resulting from the OID on the Agreement. The funds are split between 9 tranches with the initial tranche being $250,000 and each subsequent tranche being $125,000. The Company would use the proceeds to grow its pipeline of clients. As part of the agreement 6-months from each funding date (unless the additional tranches are secured by collateral), Typenex will be able to convert the financing amount into shares at a rate equal to 40% multiplied by the lowest intra-day trade price in the 15 trading days immediately preceding the conversion. Additionally, the Company agreed to set up a reserve of 3.2 billion shares on behalf of Typenex. Reserves are established by Typnex and the Company may need to increase the reserve at the request of the lender. Once the notes have been satisfied, the Company can remove any remaining shares from the reserve that had been established and reduce its authorized share count accordingly.

https://www.otcmarkets.com/edgar/GetFilingHtml?FilingID=12035868