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Oxonius

04/03/19 11:58 AM

#9162 RE: FlahTrader44 #9161

Some "investors" may make some money here but it certainly won't be the common stockholders. Holders of the debt and all the preferred shares will have first crack at what remains on the carcass.

There may also be some small trading profits available over the next few months as the price spirals down to around $0.0003

If you have any doubts, just re-read that SEC filing of 3/20:

<< On March 13, 2019, the Company entered into a settlement agreement with the Investor, pursuant to which, in full and final settlement of all claims asserted by the Investor against the Company related to the Notes and the Transaction Documents (the “Settlement Agreement”) for the outstanding balance due and payable under the Notes, such amount being $570,000 (the “Settlement Value”). Pursuant to the terms and subject to the conditions in the Settlement Agreement, the Company agrees to authorize and reserve a number of shares of the Company’s common stock pursuant to the reserve requirements of the Notes, as follows: an initial amount of 1,753,846,154 (a multiple of two times the anticipated conversion of the Settlement Value), which shall be increased within thirty calendar days to 5,261,538,462 shares (a multiple of six times the anticipated conversion of the Settlement Value) (the “Settlement Shares”) of the common stock of the Company for issuance upon conversion by the Investor of the amounts owed under the Notes, in accordance with the terms of the Notes, including but not limited to the beneficial ownership limitations contained in the Notes, as contemporaneously with the Settlement Agreement. Such irrevocable authorization and reservation for the initial amount by the Company shall occur no later than one (1) business day, and for the increase no later than thirty calendar days, after the effective date of the Settlement Agreement. In addition to the foregoing, upon the sale by the Investor of the Settlement Shares as delivered to the Investor by the Company resulting in total net proceeds less than the Settlement Value, the Investor is entitled to additional Settlement Shares of the Company’s common stock, if, after the Investor has sold all Settlement Shares, the Investor delivers a written notice to the Company certifying that the Investor is entitled to receive additional shares of the Company’s common stock (the “Make-Whole Shares”), the number of Make-Whole Shares being equal to the greater of (i) zero and (ii) the quotient of (1) the difference of (x) the settlement value with respect to each sale of shares by the Investor after the delivery of the Settlement Shares, minus (y) the aggregate net consideration received by the Investor from the resale of all shares of common stock issued by the Company, divided by (2) the average trailing closing price for ten (10) trading days for the shares immediately preceding the date of delivery of the Make-Whole Shares. >>