Replies to post #9488 on Praxsyn Corp (PXYN)

[Atlanta1]

yes - there is more super dilutive Series D, over and above the purchase transaction shares. we just don't know how much:

Additionally, the Company’s convertible promissory notes shall be exchanged for a like Parent convertible promissory note, convertible into shares of Parent Series D Preferred Stock on the terms herein, into one (1) share of Parent Series D Preferred Stock for each One Hundred Dollars ($100) of principal and interest converted in accordance with the terms of the notes.

[sensible]

Rhenarium,

Please note the following from Page 8 - Exhibit 99.1

Under Revenue Recognition

December 31, 2013 Gross billing Revenue was $15,551,345 and after estimated contractual
and other adjustments of $8,562,809, Net billing revenue was $6,988,536

[sensible]

Rhenarium,

Also note the following:

From the Agreement and Plan of Merger posted in the Original 8-K on3/26/2014:

ARTICLE II. EFFECT OF THE MERGER ON CAPITAL STOCK

Section 2.01 (c) Each Company convertible promissory note (“Notes”) shall be exchanged for a like Parent convertible promissory note, convertible into shares of Parent Series D Preferred Stock on the terms in Section 2.01(a) into one (1) share of Parent Series D Preferred Stock for each One Hundred Dollars ($100.00) of principal and interest converted in accordance with the terms of the Notes. All such Notes, when so exchanged, will no longer be outstanding and will be automatically cancelled, retired and cease to exist.

I believe that Series D converts 1,000:1 and that there was, at December 31, 2013, $3,796,875 in Convertible Notes according to the balance sheet in Exhibit 99.1.

This means there may be @ 37,969 new Series D shares for @ $3,796,875 in Convertible Notes converting to @ 37,969,000 shares total, not, "another few hundred million."

[cdhames]

Sorry but that's not how Share Structure works... Call the TA to get the correct O/S; it's nowhere near a Billion.


Transfer Agent
3200 Cherry Creek Drive South
Suite 430
Denver, CO 80209
303-282-4800