Jon Fife does NOT DO ANYTHING BUT TOXIC FINANCING To say this is “non toxic” is comical. Look at the terms;
1) $4,250,000.00 loan
2) OID Of $385,000.00
3) Attorney Fees $10,000.00
4) Initial Holdback Of shares for conversion; 16,000,000
Prior to the interest attached or any further holdback of shares as per further item 7 your company just sold shares for $.24 a share. Anybody who paid more (Every one of YOU) just got diluted. That’s the definition of toxic financing. John M Fife is a well known toxic death spiral dilutive financier. I just thought I’d help you educate these fine folks on the mess they’ve gotten in.
Fife works under numerous corporate veils. In addition to the recent St George’s you will also find him making toxic, death spiral convertible dilutive loans under the names; Tonaquint, Tangiers, Iliad, Chicago Ventures, JVF Holdings, Inter Mountain Capital I Inc and Utah Resources.
Not a single loan made by a single one of these entities to a single ticker is at a higher price today then trips. Many have gone to the grey Sheets or are gone. That’s right; $.00099 is the BEST any tickers ever done.
Fife was suspended by the SEC in August of 2007 which included his having to pay a hefty fine. The suspension was for a minimum 18 months before he could apply for reinstatement. There are others too!;
Just google these keywords: John M. Fife insider trading and John M Fife SEC Fines then you will learn a little .
There are so many tickers that went to trips, so many lawsuits to try and rescind the financing, so many SEC and FINRA fines and discipline actions for toxic, death spiral financing, what, you think John found god over SIGO?
I know John Fife and I was involved in helping him finance ONE DEAL and we’re and are so embarrassed I won’t even accept a lunch invitation from him.
Then of course sometimes he used his wife until she was permanently barred from any position by the SEC in 2015;
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