Replies to post #942 on Xechem International Inc. (fka XKEM)

[PatD100]

Only about Malaria from what I could see.

[DayofReckoning]

from ragingbull...stevo
Old Loan VS. New Loan - Faqs
OLD LOAN:
Alembic gets gross royalty of 15% from total sales of NICOSAN.
1% export fee for all revenues generated outside of Nigeria.
10 million warrants to purchase Xechem's common stock.
Right of first refusal for the distribution rights in Africa and India from the sale of its sickle cell drug.
Right of maturity date of April 2008.

NEW LOAN:
1 million due by January 31, 2006 (Paid on On January 23, 2006).
Remaining $2,000,000 due by December 31, 2006.
All existing agreements terminated (15% total sales, 1% export fee, warrants to purchase stock)
But unlike the Old Note, the New Note is no longer convertible into shares of Xechem's common stock.
If the remaining $2 million is not paid by July 2006 a monthly fee of $16,600 will be assessed (up to December 2006 = $99600).
The New Note continues to bear interest at the rate of 8%.
Xechem also issued Alembic a warrant to purchase 10,000,000 shares of Xechem's common stock at an exercise price of $0.20 per share
The company also gave Alembic the right of first offer regarding the licensing of any distribution rights with respect to NICOSAN/HEMOXIN

Xechem and Alembic entered into a Security Agreement, as security for the payment of the Initial Payment and the Remaining Balance of the New Note.
Xechem granted Alembic a security interest in:
(a) 500,000 shares of restricted stock in CepTor Corporation owned by Xechem (the "CepTor Shares"),
(b) 15% of the issued and outstanding shares of common stock of Xechem Nigeria; and
(c) 5,000,000 shares of common stock of Xechem.

Recently XKEM converted $1,332,653 in debt into 245,030,554 shares of Xechem's common stock.
(Representing approximately 47% of Xechem's currently issued and outstanding stock)