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Re: None

Thursday, 08/01/2013 2:29:38 PM

Thursday, August 01, 2013 2:29:38 PM

Post# of 1332
XTOG traded debt for equity in form of Series A preferred and common shares which eliminated over 4 million in liabilities. The 3.694 million in series A preferred are 100% owned by insiders and do not have to convert until April 2014.

At present there is 188,996,564 shares of common stock & 3,694,400 series A preferred.

The Series A preferred shares will convert at 1:1

After the reverse split there will be 1.89 million common shares outstanding.

The 5.583 million is the fully diluted shares outstanding. It will only come into play after the insiders who hold the Series A preferred shares choose conversion; which does not have to happen until April 2014 and will not be included in the float as the common shares will be 100% held by insiders.

There is nothing to support 1.2 billion that was only the number of voting rights.

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