Replies to Post #56522 onTON Strategy Company (TONX)

Replies to #56522 on TON Strategy Company (TONX)

04/27/18 2:02 AM

nodummy great post summarizing all the dilution showing and explaining the filings with links. Ive been saying this was a dilution machine but a damn good one from the first time i looked at it. the weight of all the dilution shares will bloat fusz up nice and chubby like the walmart waddlers. pretty soon it will need a electric shopping cart just to get around. there wont be no more sprinting rallies. ole chubby will just roll over fart out some dilution shares at the sight of a pr. man pigs ate headed for the slaughter

Irishvox

04/27/18 6:03 AM

#56536 RE: nodummy #56522

Nodummy, are you yourself a shareholder? Based on your post will you retain your shares?

mrnomonies

04/27/18 7:24 AM

#56542 RE: nodummy #56522

XD.. why can't business owners just borrow from reputable lenders?

But yeah, If what you posted is true, it certainly looks pretty bad. When you're selling shares of your company at like 6 cents, then the company just turns around and dumps it on the market for like 2-3$. Ugh... C'mon Mr.CEO clear this situation up or we all going under!

dizong

04/27/18 8:13 AM

#56552 RE: nodummy #56522

Look at this, don’t cherry pick the SEC filings:

https://www.sec.gov/Archives/edgar/data/1566610/000149315218003173/form8-k.htm

Stockseekr

04/27/18 8:15 AM

#56553 RE: nodummy #56522

Now I understand why all of the talk about the guys in the caymen island.

Oceanside being in the caymen island appears shady to me. There's only a couple of reasons you reside in the caymen island

Has anyone done some research on this Daine Currie guy?

Oceanside Strategies Inc is controlled by Dain Currie. Dain Currie is a former broker from Vancouver with an interesting past before moving to the Cayman Islands.

ki2002rom

04/27/18 8:54 AM

#56578 RE: nodummy #56522

FALSE..... You are regurgitating past filings that have already been cleared off the books in their entirety. You 'conveniently' left out the latest 'pro forma' that spells that out. Oceanside still has their own shares from last year, they haven't sold.

MoneyMan

04/27/18 9:49 AM

#56670 RE: nodummy #56522

To be fair, they did put in a Proforma Balance Sheet for all the Subsequent Events. Much cleaner now.

15. SUBSEQUENT EVENTS

(i) In January 2018, the Company issued unsecured convertible notes to Auctus Fund (Auctus) and EMA Financial (EMA) that total $150,000 in exchange for cash of $130,000 or an original issue discount of $20,000. The notes mature in January 2019 and bear interest at a rate of 8% per annum. The notes are also convertible to common shares at a conversion price equal to the lower of: (i) the closing sale price of the Common Stock on the Principal Market on the Trading Day immediately preceding the Closing Date, and (ii) 70% of either the lowest sale price for the Common Stock on the Principal Market during the ten (10) consecutive Trading Days including and immediately preceding the Conversion Date, or the closing bid price. As part of the offering, the Company also granted Auctus and EMA five-year warrants to acquire a total of 1,000,000 shares of the Company’s common stock with an exercise price of $0.14 per share.

The Company determined that the conversion feature of the notes and the warrants issued are subject to derivative liability accounting with a fair value of $301,739 at the date of issuance. The Company will account the fair value of the derivative up to the face amount of the notes of $150,000 as a valuation discount to be amortized over the life of the note, and the excess of $151,739 being recorded as a finance cost. In addition, the Company will also record financing costs of $20,000 to account the original issue discount of the notes.

(ii) From January 2018 through March 2018, the Company granted 106,847 shares of common stock and stock options to purchase 906,272 shares of common stock with a total fair value of $181,157. These equity instruments were granted to employees for services to be rendered and settlement of debt. The stock options granted vest over a period of 3 years with an average exercise price of $0.26 per share.

(iii) From January 2018 through March 2018, the Company issued 7,383,006 shares of common stock and paid $976,120 in cash to settle outstanding notes payable totaling $1,870,769 and accrued interest of $147,097. As a result, the Company will record interest expense of $893,120 to expense the unamortized debt discount and prepayment interest, gain of $1,248,809 to extinguish the corresponding derivative liability related to these notes payable and loss on debt extinguishment of $1,090,057.

(iv) From January 2018 through March 2018, the Company issued 20,469,028 shares of common stock in exchange for cash of $3,300,500 or an average selling price of $0.16 per share. As part of the sale, one investor and current note holder agreed to cancel a note payable amounting to $100,000 that was issued in November 2017. As a result, the Company will record a gain on extinguishment of $158,396 to account the extinguishment of derivative liability of $136,226 and unamortized debt discount of $77,830. In connection with certain of such sales of shares of common stock, the referenced cancellation of a note payable, and the above-referenced settlement in cash of certain outstanding notes, we may be in a dispute with such investor in respect of the applicability of that cash settlement, as distinguished from such investor’s desire to convert one or both of such settled notes into shares of common stock. In connection therewith, we have reserved 200,000 shares of common.

(v) On March 28, 2018 the Company converted the CEO’s accrued salary of $582,333 into 407,226 restricted shares of common stock at a price of $1.43 per share, which represents the closing price of the Company’s shares as reported on OTC markets on March 28, 2018.

(vi) Subsequent to December 31, 2017, 4,641,667 shares of common stock that were subject to vesting schedules and previously accounted for were issued.

$FUSZ