Mexus Gold US (MXSG)

[T-Hawk]

Couple of notable items from the 10-K that stuck out to me;

1. $151,360 in gold sales - a welcomed sight

2. 15% of the share float was issued within the last 90 days to "satisfy subscription agreements". Not sure what Subscription Agreements all include, perhaps (hopefully) most of it is payment to PT. If not, there have been a lot of shares issued that haven't cleared the market.

3. Mexus has $1,277,775 of notes payable and notes payable – related party in default. There don't appear to be any default provisions stated in these notes so I assume there is no penalty, but the company is default none the less.

Basically, the debt train and share dilution train is picking up speed again. Mexus has to start selling about $40,000 + of gold per month soon, or the toxic debt will force them to do another reverse split.