Replies to post #220043 on On4 Communications Inc (ONCI)

[Blade$dream]

$ONCI Looking forward to the coming days / weeks $$$$$ 2019 $$$$$

[tigerpac]

I understand why you want to believe SB in the worst way but unfortunately according to his own filings his statement about the $60K is not supported by the facts.
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My response below is to the post that mary made:

Debt is from January 2018, 60k. It matured this past January and was always in the filings. That is the selling we have seen. That is the 'new' debt we saw on the Q. He needed to get things moving in the right direction. Now with profits at 200k a month, he does not see any further need for this kind of borrowing.

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Here are the facts on convertible notes :

7/31/17
$32,633 Tide Pool Ventures
$26,500 Louvas
$30,000 WHC Capital
$ 1,500 LG Capital
======
$90,633

10/31/17
$32,633 Tide Pool Ventures
$26,500 Louvas
$30,000 WHC Capital
$ 1,500 LG Capital
$65,000 Livingston Asset Management
======
$155,633

1/31/18 - pd WHC Capital - $30,000
$32,633 Tide Pool Ventures
$26,500 Louvas
$ 1,500 LG Capital
$65,000 Livingston Asset Management
======
$125,633

4/30/18 - No activity

$125,633

7/31/18 - pd Livingston - $65,633
$32,633 Tide Pool Ventures
$26,500 Louvas
$ 1,500 LG Capital
======
$65,633

10/31/18 in footnotes added Oscaleta Partners $8250+$1000 interest in exchange for 9,475,664 shares occurred during the period ending 7/31/18. So this note was shoehorned in for the Annual Statement. On4 did not disclose it in the period ending 7/31/18.
Oscaleta - Steven Hicks - Principal, frequent partner of Jeffrey Conouse.

10/31/18 - added Machiavelli - $288,000
$32,633 Tide Pool Ventures
$26,500 Louvas
$ 1,500 LG Capital
$288,000 Machiavelli
=======
$348,633


1/31/19
$20,000 Machiavelli
$80,000 Carpathia
$128,000 J.P. Carey
$32,633 Tide Pool Ventures
$26,500 Louvas
$ 1,500 LG Capital
========
$288,633


As a subsequent event to 1/31/19:

(i) On February 14, 2019 the Company issued 85,003,928 common shares upon the exercise of a conversion by Carpathia LLC of a $ 60,000 convertible note, plus accrued interest thereon,


Based upon the facts presented in On4's own filings you can see that there was NEVER a disclosure of a $60,000 convertible note from Carparthia unless the $60K redemption came from the $80K note that was issued DURING the period ending 1/31/19 (which would mean a 90 day note which I think is doubtful).

As further evidence, note how the Machiavelli note dropped from $288,000 to $228,000 in just one quarter. Then On4 had to correct the breakdown from Machiavelli to the other Canouse controlled companies.

Please correct me if I'm wrong and show your work as well.

TP