Replies to post #122242 on DD Support Board and Research Team

[tedpeele]

re your post on FUS*, the note that was replaced wasn't a toxic note. It was extended but at the same prices as before. Overall that is a positive, the way I see it.

They do have one toxic note, and we'll know soon if it is paid off as the CEO says it will be. The fact that he has put in several million $ of his own money to keep the company alive when the business model had to change and many other things re his past history (he sold a company for over $200m) give me confidence that he will pay it off.

So, I don't think FUS* is a typical pinky scam.

I know you guys hear that all the time, as do I, but that's why I invested in FUS* and not the other ones that people say that about.

Thanks for your good intentions.

[surfkast]

Posters on the OPMZ board were claiming this note was a good thing to help the company grow and would not affect the PPS as TYPENEX would be limited to how many shares they could dump each month!


Item 8.01 Other Events

(1) On May 1, 2017, the Company closed on a $1,380,000 financing transaction with Typenex Co-Investment, LLC. The Company would receive a total of $1,250,000 under the agreement with the remaining $130,000 resulting from the OID on the Agreement. The funds are split between 9 tranches with the initial tranche being $250,000 and each subsequent tranche being $125,000. The Company would use the proceeds to grow its pipeline of clients. As part of the agreement 6-months from each funding date (unless the additional tranches are secured by collateral), Typenex will be able to convert the financing amount into shares at a rate equal to 40% multiplied by the lowest intra-day trade price in the 15 trading days immediately preceding the conversion. Additionally, the Company agreed to set up a reserve of 3.2 billion shares on behalf of Typenex. Reserves are established by Typnex and the Company may need to increase the reserve at the request of the lender. Once the notes have been satisfied, the Company can remove any remaining shares from the reserve that had been established and reduce its authorized share count accordingly.


Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.


1PM Industries, Inc.

Dated: May 3, 2017 By: /s/ Joseph Wade

Name:
Joseph Wade

Title: CEO



https://www.otcmarkets.com/edgar/GetFilingHtml?FilingID=12035868