North American Cannabis Holdings Inc (USMJ)

[PRmaniac]

Yes, dilution nightmare.

USMJ, after just adding 4 billion more shares, still does not have enough shares authorized to allow conversion of all those toxic and other convertible notes, including those in default.

CURRENT LIABILITIES:
Accounts payable – accounting/legal $ 164,118
Accrued consulting fees/salaries 410,000
Total current liabilities 574,118
Interest – reserve 250,000
Advances payable 100,000
Convertible notes payable 481,153
Convertible notes payable – prior related parties 191,250
Convertible promissory note payable #1 47,127
Convertible promissory note payable #2 27,000
Convertible promissory note payable #4 200,000
Notes payable – SR 470,000
Purchase Secured Promissory Note #2 200,000
Purchase Unsecured Promissory Note #3 150,000
TOTAL LIABILITIES 2,690,648