CEO Vincent Browne &Dennis Mitrano. How they these 2 clowns justify $150 salary plus incentives plus bonus up to 50% of their salaries. Half a million they get while the stock is at all time lows as they hide somewhere in the clouds and collect a paycheck
I have not seen a more corrupted, useless and mismanaged duo in my entire life while investing.
Not an ounce of shame or respect life in their spines.
Some key notes from the filing, read the actual filing closely and you'll now see the manipulation behind the 100 share lots at .01. All corrupt and manipulated to control that value of the conversions.
Re the volume spikes, it's all Ironridge.
All in all these Ireland hoaxsters are running a cow factory and they'll cont to MILK investors while they so call operate their cloud company in the clouds lmao.
Hats off to them for the wonderful orchestration behind this SHAM
Share count Aug 31 - 2,714,157,103
Common Stock Issuances:
From August 31, 2013 through November 7, 2013 we issued to Ironridge a total of 810,000,000 shares of common stock to Ironridge pursuant to a 3(a)(10) transaction; see Note 8 for more details.
From August 31, 2013 thru November 7, 2013 we issued a total of 385,546,000 shares of common stock to 3 convertible note holders, reducing our principal debt obligations by $26,812.
Mr. Mitrano will receive a salary in the amount of $150,000 per year; (iii) Mr. Mitrano was issued 45,000,000 shares of immediately vested restricted common stock; (iv) Mr. Mitrano is eligible to earn a performance related bonuses of up to 50% of his salary; (v) Mr. Mitrano is eligible for long term incentive compensation based on performance, of 2% of the then total issued and o
NOTE 8 – IRONRIDGE - 3(a)10 Transaction
On February 22, 2013, AXLX and Ironridge Global IV, Ltd (“IV”) settled $802,889.00 in AXLX accounts payable, now owned by IV, in exchange for shares of AXLX common stock. Pursuant to an order approving stipulation for settlement of claims between IV and AXLX, IV is entitled to receive 10 million common shares plus that number of shares with an aggregate value equal to the debt amount plus a 10% third-party agent fee, and reasonable attorney fees, divided by 70% of the following: the closing price of AXLX’s common stock on the date prior to entry of the order, not to exceed the arithmetic average of the individual daily volume weighted average prices of any five trading days during a period equal to that number of consecutive trading days following the date of initial receipt of shares required for the aggregate trading volume to exceed $9 million.
As of August 31, 2013, IV has received a total of 630 million unrestricted AXLX common shares, and may be required to return or be entitled to receive additional shares, based on the calculation summarized in the prior paragraph. For purposes of calculating the percent of class, the reporting persons have assumed that there were a total of 1,435,370,902 shares of common stock outstanding immediately prior to the issuance of shares to IV, such that the shares initially issued to IV would represent approximately 9.99% of the outstanding common stock after such issuance. IV is prohibited from receiving any shares of common stock that would cause it to be deemed to beneficially own more than 9.99% of the issuer’s total outstanding shares at any one time.
