Replies to post #28114 on Bemax Inc (BMXC)

[Amuhamme]

Where do you see they were given common shares?

[Vector93]

I don't think you know what dilution is. Of course they were given common shares....in February.

As a result, the OS increased (dilution)....in February.

If they sell their shares now, it's not going to change the OS, the shares are just going to change hands.

Ex:

January - 100,000 shares OS

February - Creditors paid with common shares, new OS is 200,000 shares. This is dilution.

March (and forever more) - Creditors sell their shares to someone else. OS is still 200,000. No dilution.

[I-Glow]

In a press release the CEO stated:

Jan 09, 2017 (Marketwired via COMTEX) -- DALLAS, GA--(Marketwired - January 09, 2017) - Bemax Inc. BMXC, +3.60% is pleased to announced today that 92 percent ($276,178) of the Convertible Notes amount of $302,750 due between October 19, 2016 and December 9 2016, had converted principal and interest due under the Notes to 423,754,790 shares of Common Stock, as Bemax prepares to launch its two private label brands in the U.S. market through Amazon.com starting April 4, 2017.

That is a conversion rate of $0.0006 per share.

IG