VirExit Technologies Inc (VXIT)

[Werbe]

I see all the notes can convert now, most @ 50%. Maturity @ end of this month, April, July and August. 300k+ owed in total but am sure they attack it over time.

The Company needs to generate revenues or must raise additional capital, reduce expenses and curtail cash outflows in order to be able to accomplish its business plan. In the interim, the Company intends to accrue for management salaries and defer certain payments. The Company’s $3,077,976 of total liabilities at November 30, 2018 includes $1,114,207 of notes payable to a related party, $1,089,950 of accrued payroll expenses due to Company management, and $6,725 due to an officer of the Company, all of which we can continue to delay payment. During the three months ended November 30, 2018, we received net proceeds totaling $147,250 from two convertible notes payable. The first payments on these notes are due in March 2019. Additionally, these notes can be repaid through conversion into the Company’s common stock. Unless we achieve revenue and obtain equity or debt financing as described below, we do not believe we currently have the capabilities and available resources to continue for the next twelve months.