Top of my head I believe it's about $220,000 which for a company that will have over $100,000,000 in asset is friggin Peanuts.... Thinking they may possibly refi into a commercial bank or pay it off.
AXXA Debt PR Dec. 20, 2018 Addressing our progress, Exxe Group management has also applied to the OTC to remove the shell risk designation based on our companys accomplishments in securing solid assets and increasing revenues. Once we complete some of the updates, we are expecting a positive decision on removing the designation. With regard to the debt matters, the Company has approximately $250,000 of aged convertible debt on its books which it inherited from the original Canadian issuer. Since the Company went through reorganization and redomiciled to Delaware, it permitted a certain level of negotiation to protect shareholders and investors from excessive dilution. The new debt issuances are never toxic and we always look to protect a=our investors. The company remains focused on preserving its cash and keeping its share structure sound as it brings to its shareholder's long-term projects. Over the past six months, Exxe Groups assets under consolidation reached approximately $50,000,000, while the debt conversions to satisfy obligations that were created by the predecessor issuer was less than one percent in todays dollar amount of the asset value. In an effort to raise capital, EG successfully avoided dealing with toxic funding and in one of the capitals raising deals gave EG up to 250k in funding repayable back not earlier than in 3 years. To date, we have not expended all of the money committed to us and we expect to be able to repay the whole amount before the end of a three-year term without penalties.
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