Mexus Gold US (MXSG)

[T-Hawk]

SO........WHO PAID THE $72 K

It was paid via a toxic note with dilution of stock terms. The note was probably sold to some nugget-finding insider who could convert the note to shares at 50% market price, then sell the shares before the dismal 10-k was filed.


From the delinquent 10-k...

On May 11, 2022, the Company issued a promissory note (“Note”) with a principal of amount of $70,300 bearing interest of 12% per annum to settle $70,300 in accounts payable due for accounting fees. The Note is due on May 31, 2023. The Note holder, in its sole discretion, may convert any part or all of the principal, interest or other charges due and payable under this Note to restricted common stock of the Company at a variable conversion price calculated at 50% of the market price defined as the average of the five closing trading prices during the previous five trading days.