Mind Solutions Inc (VOIS)

[mmrich1]

Let me put the Brent Fouch is toxic to VOIS shareholder argument to rest.

NOTE 11– CONVERTIBLE NOTE PAYABLE TO RELATED PARTY



The Company has an outstanding convertible note payable to Brent Fouch, a former officer of Mind Solutions, Inc. The note bears no interest and is payable upon demand. The Company and note holder agreed to amend the note on January 1, 2013 to add a conversion feature. The conversion feature allows the holder to convert the loan into common shares of the Company at the fair market stock price on the notice of conversion date with no discount whatsoever. The Company did not record a derivative expense with the amendment of the note payable because the conversion feature amended into the note is at market with no discount which excludes it from being a derivative instrument.



In the first two quarters of 2013, Mr. Fouch assigned $184,824 of his outstanding convertible note to Magna Group, LLC, a unrelated third party. Mr. Fouch also converted $51,000 of his convertible note payable balance into 10,625 (post reverse-split) common shares at the fair market price. The convertible note payable to related party balance at September 30, 2013 and December 31, 2012 was $48,872 and $0, respectively

This was copied from VOIS latest 10-Q from SEC website. Notice the line that says a former officer of Mind Solutions. Yes Brent was toxic and yes Brent is no longer involved with Mind Solutions and this filing is proof of his payout to walk, now lets move forward with the facts. This was filed Sep 30 2013.