Sunshine Biopharma Inc (SBFM)

[EOT]

Investors have lost %90 of their investment since the RS. And the company still couldn’t keep a revenue generating deal they made... they were forced to renege due to no money. Now they have diluted 100mil shares since the RS with nothing to show for investors. Why?? They also just took shares (form 4) for pay.
Looking at it from here it looks absolutely horrible!!!!!

http://ih.advfn.com/p.php?pid=nmona&article=80365896


“On January 1, 2018 we had entered into a share purchase agreement with Mohamed Belhaj (the "SPA") through which we acquired all of the issued and outstanding shares of Atlas Pharma Inc. (the “Shares”). In connection with the said SPA we issued a promissory note (the “Promissory Note”) having a principal amount of $450,000 Canadian (approximately $346,000 US) and requiring payments of interest and principal in the amount of $10,000 Canadian (approximately $7,700 US) per calendar quarter. The Promissory Note is secured by the Shares.

On June 30, 2019 we informed Mr. Belhaj that we were unable to make the payment under the Promissory Note due on that date and further advised that we did not believe we would be able to make any subsequent payments as well. As such, we agreed to assign the Shares back to him in exchange for cancellation of the Promissory Note and all obligations thereunder (the “Agreement”).

As part of the terms of the Agreement all intercompany loans between us and Atlas were also cancelled. In addition, all obligations arising out of the Agreement and the relationship between the parties were released.