Bemax Inc (BMXC)

[TheBigWhale]

30 min ago
On May 30, 2018, Bemax Inc.(“the Company”) received a notice of default from JSJ Investments, Inc (“JSJ” and the “Default Notice”), which alleged the occurrence of an event of default under the terms that certain Convertible Promissory Notes (the “Notes”) sold by the Company to JSJ on March 27, 2017 and August 3, 2017 respectively, and demand all principal and accrued interest outstanding under the Convertible Notes to be immediately due and payable.

The Company vehemently disagreed with JSJ’s claims and allegations and refused to comply with JSJ’s demands stated on the Default Notice. On May 21, 2018 pursuant to the amendment section on the Notes, the Company seeks to restructure the Notes which JSJ refused to accept with primary intention to continue to dump the shares of Company in to the market.