THIS IS WHY THEY WILL NEVER GET FINANCING.....
On December 28, 2015, we acquired the worldwide issued and pending patents under PCT/FR2007/000697 and PCT/CA2014/000029 (the “Patents”) for the anticancer compound, Adva-27a, which include all worldwide rights to this intellectual property in exchange for a note payable for $12,822,499, with interest accruing at 2% per year beginning January 1, 2016 and quarterly payments of $70,000 plus interest commencing the end of March 2016 and continuing until December 2020 when the entire principal balance and all accrued interest would have become due. The note was collateralized by the Patents. Pursuant to an amendment agreement effective December 28, 2015, this note was cancelled and replaced with a new convertible note having a face value of $624,875, comprised of $462,870 in principal amount which is the seller’s (Advanomics Corporation, a related party) book value of the Patents, plus a $162,005 amount as an adjustment for the currency exchange difference. This new, interest-free note was automatically convertible into 240,336,451 shares of $0.001 par value Common Stock upon our successfully increasing our authorized capital such that a sufficient number of Common shares is available for issuance.
On July 6, 2016, we filed an amendment to increase our authorized capital to 3 billion shares of $0.001 par value Common Stock and 30 million shares of $0.10 par value Preferred Stock. Pursuant to the terms of the aforesaid two convertible promissory notes, on July 8, 2016, we issued 321,305,416 shares of our $0.001 par value Common Stock to Advanomics Corporation, a related party, in exchange for cancellation of the two notes payable specified above totaling $835,394.
IT ILLUSTRATES THEIR FRAUD SCAM PAYMENT SCHEME. BILL FOR THE PATENTS FROM ADVANOMICS (CAMILLE & SILANTY) SHELL COMPANY. LOOK AT THAT DEBT OWED FOR USELESS PATENTS.....WHY WOULD ANYONE HELP THEM FUNNEL MONEY TO THEIR PERSONAL SHELLS???
