E-Waste Systems Inc. (fka EWSI)

[stkjunky]

My concerns here as follows.

Convertible note payable to a related party, bearing interest at 12%,
unsecured, due on October 28, 2012 (note is in default)
$ 12,000 $ 12,000
Notes payable to an unrelated party, bearing interest at 14%,
unsecured, due on demand
37,500 75,000
Note payable to an unrelated party, bearing interest at 14%,
unsecured, due on March 24, 2013 (note is in default)
100,000 100,000

And LOTS of other convirtable debt being arranged at least 1 each quarter going forward with payments due going into 2015.

BIG ISSUE for me is that 2 of the notes listed above went into default. GOOD COMPANYS DO NOT DEFAULT ON LOANS UNDER ANY CIRCUMSTANCES.

I own a little bit of this stock, and was considering buying more, untill I found this.....