VirExit Technologies Inc (VXIT)

[Werbe]

No revs and conversion faucets turned on. Direction here is admirable but IMO just an excuse. Last quarter alone they gave themselves 200k in stock based compensation, which just coincided with the debt faucets coming open. Total shell with booby trapped debt that could be bought out @ anytime and turned into convertible.

Company even says next 2 quarters will be to work on recapitalization of books. They even admit to not having enough reserved shares to meet convertible debt, which means RS or AS raise by third quarter. Theyve added near 40% new shares to OS since end of FEB this year.

At April 15,2019, the Company did not have sufficient authorized and unissued common stock to meet the reserve demand of its convertible notes payable, and Management intends to rectify this deficit during the third quarter.

As a renewable energy Company, Poverty Dignified remains committed to incubating solar technologies that establish electrification, education, connectivity and media distribution infrastructures in rural communities across the globe to empower the individual, community and local economy. Plans are underway to recapitalize the Company over the next two quarters, which if successful, would provide the necessary operational capital to execute its plan of operation.

Since February 28, 2019, the Company has issued 7,364,063 shares of common stock for the conversion of $43,935 of principal on convertible promissory notes.