This is the kind of misinformation that cost a lot of people a lot of money
I wrote a message about AXXA to a friend back on May 1st pointing out the fact that AXXA is loaded with a ton of convertible debt that converts at between $.00001/share and $.001/share.
Here is that message:
AXXA is set-up for a massive crash in the not to distant future
On May 19, 2013, the Company entered into a 12-Month Convertible Note in the principal amount of $28,800 with a private investor. On June 19, 2014, the debt holder entered into a Partial Purchase and Assignment Agreement whereby $2,100 of the Note was assigned to a third party and, subsequently converted the assigned debt into 210,000,000 free-trading shares of the common stock of the Company ($.00001/share). On March 11, 2015, the debt holder converted $1,200 of his note into 60,000,000 free trading shares ($.00002/share). On March 28th, 2017 a $5000 portion of the note was purchased for $5000 by a private investor and the company issued 10,000,000 shares of the common stock of the Company to said investor upon conversion of the principal amount of $5,000 ($.0005/share). A principal amount of $20,500 of the Note plus all accrued interest remains unpaid.
On December 21, 2013, the Company entered into a 12-Month, 8% Convertible Note in the principal amount of$60,525.24 with a private investor. The principal and any accrued, unpaid interest can be converted into shares of the Company’s common stock at a conversion rate of $.0001/share after the maturity date. In the event of any default, the principal plus any accrued but unpaid interest can be converted into shares of the Company’s common stock at a par value of $.00001/share. On February 3, February 12, March 10 and March 18, 2015 the Company issued 13,000,000, 62,500,000, 50,000,000 and 50,000,000 shares of the common stock of the Company, respectively, upon the conversion of the principal amount of $2,600 ($.0002/share), $5,000 ($.00008/share), $4,000 ($.00008/share) and $4,000 ($.00008/share), respectively. On April 9, 2015, the Company issued 50,000,000 shares upon the conversion of the principal amount of $4,000 ($.00008/share). On March 28th, 2017 a $5000 portion of this note was purchased for $5000 by a private investor and the company issued 10,000,000 shares of the common stock of the Company to said investor upon conversion of the principal amount of $5,000 ($.00005/share). On March 28th, 2017 a $5000 portion of this note was purchased for $5000 by a second private investor and the company issued 10,000,000 shares of the common stock of the Company to said investor upon conversion of the principal amount of $5,000 ($.0005/share). On March 28th, 2017 a $5000 portion of this note was purchased for $5000 by a third private investor and the company issued 10,000,000 shares of the common stock of the Company to said investor upon conversion of the principal amount of $5,000 ($.0005/share). On March 28th, 2017 a $5000 portion of this note was purchased for $5000 by a fourth private investor and the company issued 10,000,000 shares of the common stock of the Company to said investor upon conversion of the principal amount of $5,000 ($.0005/share). The principal amount of $20,925 of the Note plus all accrued interest remains unpaid.
On March 5, 2014, the Company entered into a 12-Month, 8% Convertible Note in the principal amount of $96,578.65 with a private investor. The debt holder has the option to convert the principal and any accrued, unpaid interest into shares of the Company’s common stock at a conversion rate of $.0001/share after the maturity date. In the event of any default, the principal plus any accrued but unpaid interest can be converted into shares of the Company’s common stock at a par value of $.00001. As at quarter ended June 30, 2017, the principal amount of $96,579 of the Note plus all accrued interest remains unpaid.
On May 8, 2014, the Company entered into an Assignment and Assumption Agreement in the principal amount of $135,000 pursuant to a July 4, 2010 Convertible Note. On May 8, 2014, the Company issued 300,000,000 free-trading shares of common stock upon the conversion of the principal amount of $30,000 ($.0001/share). On November 10, 2014,the Company issued 3,278,689 free-trading shares of common stock upon the conversion of the principal amount of $20,000 ($.0061/share). On March 28st, 2017 a $5000 portion of this note was purchased for $8000 by a private investor and the company issued 10,000,000 shares of the common stock of the Company to said investor upon conversion of the principal amount of $5,000 ($.0005/share). A principal balance of $80,000 remains outstanding plus all accrued interest remains unpaid on the May 8, 2014 Assignment.
On May 8, 2014, the Company received net proceeds of $50,000 from a private company for the sale of an Original Issue Discount Convertible Promissory Note (the “Note”). The Note, which is due on May 8, 2015, bears interest at the rate of 8% per annum. Absence the occurrence of an Event of Default, the Company may prepay the Note for a net payment of $75,000 at any time prior to August 8, 2014. If the $75,000 is not prepaid by this date, the note-holder has the right to refuse any further payments and choose to convert the Note upon Maturity Date or any time thereafter. On March 20, 2017, the Company issued 5,000,000 free-trading shares of common stock upon the conversion of the principal amount of $5,000 ($.001/share). On November 28st, 2016 a $7,500 portion of this note was purchased for $7500 by a private investor and the company issued 7,500,000 shares of the common stock of the Company to said investor upon conversion of the principal amount of $7,500 ($.001/share). On November 29th, 2016 a $7,500 portion of this note was purchased for $7500 by a private investor and the company issued 7,500,000 shares of the common stock of the Company to said investor upon conversion of the principal amount of $7,500 ($.001/share). On December 1st, 2016 a $7,500 portion of this note was purchased for $7500 by a private investor and the company issued 7,500,000 shares of the common stock of the Company to said investor upon conversion of the principal amount of $7,500 ($.001/share). On December 5th, 2016 a $7,500 portion of this note was purchased for $7500 by a private investor and the company issued 7,500,000 shares of the common stock of the Company to said investor upon conversion of the principal amount of $7,500 ($.001/share). On December 23rd, 2016 a $7,500 portion of this note was purchased for $7500 by a private investor and the company issued 7,500,000 shares of the common stock of the Company to said investor upon conversion of the principal amount of $7,500 ($.001/share). On December 21, 2016, the debt holder converted $5,333 of their note into 5,333,000 free trading shares ($.001/share). On March 21, 2017, the debt holder converted $5,000 of their note into 5,000,000 free trading shares ($.001/share). A principal balance of $2,167.00 remains outstanding plus all accrued interest remains unpaid on the May 8, 2014 Assignment
On December 8, 2016, the Company received net proceeds of $10,450 from a private company for the sale of an Original Issue Discount Convertible Promissory Note (the “Note”). The Note, which is due on December 8, 2017, bears interest at the rate of 10% per annum. We aren't told what the conversion rate is. But the Note is now in default.
On December 16, 2016, the Company received net proceeds of $5,150 from a private company for the sale of an Original Issue Discount Convertible Promissory Note (the “Note”). The Note, which is due on December 16, 2017, bears interest at the rate of 10% per annum. We aren't told what the conversion rate is. But the Note is now in default.
All of that totals up to $235,771 in past due convertible debt. The balance sheet showed $455,000 in 3rd party debt as of December 31, 2017 so i'm not exactly sure where the other $120k is since it wasn't itemized in the Notes for the quarterly report, but either way that's a lot of debt that needs to be paid off.
The company makes very little revenues and operates at a loss plus it has almost no cash. So the only way they are paying back those Notes is if they issue stock.
Even using the high end of the normal conversion rates from the past of $.001/share, $235,771 - $455,000 would come out to 235,771,000 - 455,000,000 shares.
It'll be fun watching this one nose dive in the coming days because no matter what kind of B.S. people try to feed the masses about shares being locked because of the cusip change, the cusip change will have absolutely no effect on new shares being issued to the Note holders. They can receive new shares immediately following the name/symbol change.
Yes shareholders that owned the stock under the TLNUF symbol had to wait a few days for their stock to clear after the symbol change, but there was absolutely nothing preventing the company from issuing new free trading stock right away under the symbol for debt conversions.
And it should have taken people absolutely no effort to look through the most recent AXXA OTC disclosures to find all of the outstanding convertible debt that could immediately be turned into new free trading stock.
Since I knew this (and other should have since it is just common sense), it was super easy to predict that AXXA was going to tank in spectacular fashion from the mid-$.30s.
