Replies to post #66255 on Trans Global Group Inc (TGGI)

[iambadbert]

the debt was mainly ELIMINATED!

That is just a hoax to get dumb money to slap dat ask!!!!

Here let me help...

In December, 2014 the Issuer entered in a series of transactions with its debt holders to eliminate debt and accrued interest on the financials of the Issuer. The debt holders agreed to cancel the debt and accrued interest for an anti-dilution provision for one year and the issuance of shares owed to them from June of 2014.

Heyyyyyyyyy thats some sweet smelling stuff right there, would be great in a PR but then the next sentence...

As of the date of this report the shares were never delivered to the debt holders causing the Issuer to default
on its agreements, due to an outstanding bill owed to the transfer agent that has not been paid.

Rut Roh Defaulted on an agreement say its not so not in this shell!!!

And then....

On or about August 30, 2015 the Issuer was notified by one of the debt holders that the Company was in default as per the terms of the Agreement entered into by the former President to eliminate the debt as of December 31, 2014. The debt holder demanded the debt of all the debt holders be restored as of December 31, 2014 or it would take legal action against the Company. The debt will be restored and reflected within the 3rd quarter financials, all anti-dilution provisions shall be canceled, and only a portion of the debt shall retain its conversion privileges. The debt holders have agreed to lend additional funds to the Company as traditional loans
without conversion rights at 4% interest
.

http://www.otcmarkets.com/financialReportViewer?symbol=TGGI&id=144792 pages 12 and 13

So not only is the debt being restored(like it was ever going to be forgiven) but there is NEW DEBT that is not convertible.... yet wink wink

Signed by James Irving the latest in the line of Matt Dwyer's CEO