VirExit Technologies Inc (VXIT)

[BokehRebl]

LOL.. maybe home schooled 🤣

To answer your first question:

How much are you losing in thousands? Round to the nearest thousand!

I personally made money on VXIT… what I have in shares now is all house money and with an average well below 1c.

"Unfortunately, the company's future had been mortgaged through toxic debt. The toxic debt was piled onto the company by former CEO, James Katzaroff, almost exclusively to pay the salaries of his wife and himself, as well as take a bunch of pointless and expensive trips to places like Russia, albeit purportedly for the company's benefit, but to no avail. The Katzaroffs had taken as much as a million dollars out of Vivos over the final few years of Jim's tenure as CEO.

First of all you quoted someone’s angry opinion… this is not somehting that will generally be taken as fact and I will only comment on VXIT.
This use of someone else thoughts is basically hearsay which means your rebuttal is without merit.

The “salary” as you say has mostly been paid with shares so I don’t I know where that HUGE salary debt comes from lol!
You .. well the person your quoted makes it sound as if James got rich on salaries from VXIT, LOL… which couldn’t be further from the truth.

Try not using someone else opinion…for some reason you’re unable to produce your own, you’re simply rehashing others without showing any evidence or proof. Just nonsensical hearsay.

—-- Now the proper way to do it. ——

James is not the cause of the debt, previous operation with My Power Solutions are and they are fighting the debt in court and dont anticipate any issues being as the suing company is located in Africa, their legal reach is next to none.
https://www.otcmarkets.com/otcapi/company/financial-report/396776/content

“ The Company was established as a renewable energy company, incubating solar technologies to
establish electrification, education, connectivity and media distribution infrastructures in rural communities across the globe
to empower the individual, community and local economy. My Power Solutions, Inc., a wholly-owned subsidiary of VirExit,
was incorporated in the State of Nevada on March 13, 2014 as a franchise business opportunity with Franchise Disclosure
Documents for franchise sales in both the United States and South African markets. Africhise, Inc., a wholly-owned
subsidiary of VirExit is a Delaware Corporation, was formed on August 28, 2015 to be the franchise management arm of
My Power Solutions, Inc's franchise operations in Africa. My Power Solutions Bahamas, Inc., a wholly-owned subsidiary of
My Power Solutions, Inc., is a Delaware Corporation, was formed on June 14, 2018 to establish itself as a renewable energy
solutions company in the Bahamas. During the years ended August 31, 2020 and 2019, there was little activity in the
subsidiaries. As of August 31, 2020 the Company consolidated all remaining activities of these entities into $411,361 Other
Liabilities as all these activities have completely stopped and are no longer active.”

“ Other liabilities include amounts owed in connection with previous years’ operations in South Africa. In May 2018, following an operational
review, the Company decided to withdraw all operations of My Power Solutions, Inc. in South Africa. With a lack of significant revenues and
higher than expected expenses due to training on-the-ground personnel and the implementation of solar installations, plus the instability of the
political environment, the established operating structure and initial business plan was not sustainable.”

“ VirExit’s Board of Directors had made the decision to withdraw all operations of its wholly owned subsidiary, My Power Solutions, Inc., in
South Africa. As a result, My Power Solutions South African employees and consultants filed a dispute with The Commission for Conciliation,
Mediation and Arbitration (CCMA) in South Africa during the year ending August 31, 2018. As the Company was winding down its local
operations in South Africa, legal counsel has confirmed that the creditors of the Company will only have claims against the insolvent estate of
the local external company and not against My Power Solutions, Inc. or VirExit in the United States. It is therefore management’s position that
there is no probable recourse that will have an adverse effect on VirExit.

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”


Time for you to got play in the sandbox.. schools out.
All IMO of Course.
Good Luck to All