Replies to post #25111 on Mexus Gold US (MXSG)

[Gene_Simmons]

Thanks for the update, penywoo

[MU_Redskin1]

Thanks for the info penywoo.

Appreciate the effort!

Red

[Exxtol]

Wish I had money to give. I would just to save what I could of my stock. Thanks for the heads up. 12K should be doable.

[Amadeus4153]

"All they need is 12k."

Could explain the current selling pressure. Some longs could be selling in order to take that money to get better terms directly with the company. And/or PT could be selling a few to scrounge up the last few K to pay off the loan at end of week.

[thelimeyone]

MXSG

TY. Appreciate the REAL news.

tlo.

[T-Hawk]

Loan is due on 21 of may.

The company's 10-Q filed with the SEC on 2/17/2018 states;

On November 14, 2017, the Company issued a Convertible Promissory Note (“Note”) to JMJ Financial (“Holder”), for a principal sum of $166,667 plus one-time 10% interest charge of $16,667 which matures on May 14, 2018 for $150,000 in cash. The Company may repay the Note and interest any time in cash before the maturity date without a prepayment penalty. If the Company defaults on repayment, this Note together with any unpaid accrued interest is convertible into shares of common stock at the Holder’s option at a variable conversion price calculated as lesser of (a) $0.0375 or (b) 50% (40% if the conversion shares are not deliverable by DWAC) of the lowest trade occurring during the 25 consecutive trading days immediately preceding the conversion date.

Link:Mexus Form 10-Q filed 2/17/18

Perhaps there is a 1 week gap between maturity date and payment due date, but I've not heard of that before.