VirExit Technologies Inc (VXIT)

[Puma31]

Are you referring to these “growing liabilities”, Bashtard?


The Company’s $4,039,600 of total liabilities at November 30, 2023 includes $1,114,207 of notes payable to related parties, and $1,739,142 of accrued payroll expenses due to Company management.


Also, note VXIT is contesting this given it was part of the previous PVDG company leadership

During April 2021 the Company received a Plaintiff’s Petition naming former officers of the Company as well as the Company in connection
with funds the Plaintiff had invested with Power it Perfect. Power it Perfect was previously a related party but is no longer a related party.
The Company currently has a note payable in the amount of $1,114,207 owed to Power it Perfect. The claim against the Company is that the
Company benefitted from fraudulent actions by previous officers of the Company. The Company is accused of conspiracy and of holding
$400,000 that allegedly belongs to the plaintiff. This litigation matter is in its early stage, and more discovery will have to be conducted; but
at this stage the claims against The Company appear to be weak. The primary claims are against the other defendants. We plan to vigorously
contest the lawsuit, and we believe any alleged damages can be significantly reduced or eliminated altogether.