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Replies to post #24481 on GEX Management Inc (GXXM)
08/07/23 4:50 PM
NOTE 3. STOCKHOLDERS’ EQUITY
General
On September 21, 2020, the Company issued 30,409 shares of common stock related to a convertible note conversion.
On September 23, 2020, the Company issued 31,872 shares of common stock related to a convertible note conversion.
On September 24, 2020, the Company issued 336,134 shares of common stock related to a convertible note conversion.
On September 25, 2020, the Company issued 39,085 shares of common stock related to a convertible note conversion.
On September 29, 2020, the Company issued 57,808 shares of common stock related to a convertible note conversion.
On October 6, 2020, the Company issued 60,693 shares of common stock related to a convertible note conversion.
On October 16, 2020, the Company issued 51,170 shares of common stock related to a convertible note conversion.
On November 2, 2020, the Company issued 66,294 shares of common stock related to a convertible note conversion.
On December 3, 2020, the Company issued 69,583 shares of common stock related to a convertible note conversion.
On December 8, 2020, the Company issued 72,860 shares of common stock related to a convertible note conversion.
On December 10, 2020, the Company issued 76,691 shares of common stock related to a convertible note conversion.
On December 10, 2020, the Company issued 72,860 shares of common stock related to a convertible note conversion.
On December 14, 2020, the Company issued 72,700 shares of common stock related to a convertible note conversion.
On December 15, 2020, the Company issued 84,153 shares of common stock related to a convertible note conversion.
On December 17, 2020, the Company issued 81,481 shares of common stock related to a convertible note conversion.
On December 21, 2020, the Company issued 84,153 shares of common stock related to a convertible note conversion.
On December 15, 2020, the Company issued 100,636 shares of common stock related to a convertible note conversion.
On December 24, 2020, the Company issued 105,658 shares of common stock related to a convertible note conversion.
On December 24, 2020, the Company issued 209,643 shares of common stock related to a convertible note conversion.
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On December 28, 2020, the Company issued 81,633 shares of common stock related to a convertible note conversion.
On December 29, 2020, the Company issued 240,884 shares of common stock related to a convertible note conversion.
On December 30, 2020, the Company issued 272,828 shares of common stock related to a convertible note conversion.
On December 31, 2020, the Company issued 141,118 shares of common stock related to a convertible note conversion.
During the year ended December 31, 2020, the Company issued 131,717 shares of common stock to service providers. The shares were valued at the closing market price on their respective grant dates for a total value of $24,915.
In January 2021, the Company issued a total of 9,775,136 shares of common stock related to a convertible note conversions.
In February 2021, the Company issued a total of 16,464,637 shares of common stock related to a convertible note conversions.
In March 2021, the Company issued a total of 19,758,900 shares of common stock related to a convertible note conversions.
In April 2021, the Company issued a total of 14,216,850 shares of common stock related to convertible notes.
In May 2021, the Company issued a total of 9,404,717 shares of common stock related to convertible notes.
In June 2021, the Company issued a total of 24,611,656 shares of common stock related to convertible notes.
In July 2021, the Company issued a total of 25,599,299 shares of common stock related to convertible notes.
In August 2021, the Company issued a total of 27,291,759 shares of common stock related to convertible notes.
In September 2021, the Company issued a total of 1,720,213 shares of common stock related to convertible notes.
In December 2021, the Company issued a total of 15,310,308 shares of common stock related to convertible notes.
In January 2022, the Company issued a total of 9,775,136 shares of common stock related to convertible notes.
In February 2022, the Company issued a total of 16,464,637 shares of common stock related to convertible notes.
In March 2022, the Company issued a total of 19,758,900 shares of common stock related to convertible notes.
In April 2022, the Company issued a total of 19,700,000 shares of common stock related to convertible notes.
In July 2022, the Company issued a total of 2,278,716 shares of common stock related to convertible notes.
In August 2022, the Company issued a total of 66,491,311 shares of common stock related to convertible notes.
In September 2022, the Company issued a total of 7,857,243 shares of common stock related to convertible notes.
In November 2022, the Company issued a total of 75,133,436 shares of common stock related to convertible notes.
In December 2022, the Company issued a total of 27,479,758 shares of common stock related to convertible notes.
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NOTE 4. NOTES PAYABLE
On April 26, 2018, the Company entered into two Securities Purchase Agreements, pursuant to which the Company issued Convertible Promissory Notes (“the Notes”) with principal amounts totaling up to $1,000,000, bearing interest at 10% per annum. The total amounts of the Notes that can be funded (consideration that can be loaned to the Company) is up to $887,500, after discounts of $112,500 prorated over the term of the Notes. Amounts borrowed by the Company mature in twelve months after the date of funding and can be prepaid up to six months after issuance subject to prepayment penalties and approval by the Note holders. Any amounts outstanding on the Notes can be converted into Common Stock at a conversion price of $2.50 per share for the first six months and at a discount of up to 50% thereafter to the then current market value of the Company’s stock commencing six months after issuance. Conversion is at the sole discretion of the holders of the Notes. In May 2018, the Company borrowed $200,000 under the Notes, and received $175,000 after giving effect to discounts of 10% for each note and origination fees. The Company incurred a total of $5,000 related to origination fees on the Notes. Additionally, the Company issued 50,000 warrant shares.... On April 26, 2018, the Company entered into a convertible note payable for $146,681 bearing interest at 10% per annum. ...
On April 26, 2018, the Company entered into a convertible note payable for $146,681 bearing interest at 10% per annum.
On August 1, 2018, the Company entered into a convertible note payable for $226,000 bearing interest at 12% per annum.
On August 8, 2018, the Company entered into a convertible note payable for $85,000 bearing interest at 10% per annum.
On August 14, 2018, the Company entered into a convertible note payable for $250,000 bearing interest at 10% per annum.
On August 24, 2018, the Company entered into a convertible note payable for $85,000 bearing interest at 10% per annum.
On August 29, 2018, the Company entered into a convertible note payable for $112,750 bearing interest at 10% per annum.
On January 18 2019, the Company entered into a convertible note payable for $226,000 bearing interest at 12% per annum.
On February 15, 2019, the Company entered into a convertible note payable for $43,000 bearing interest at 10% per annum.
On April 16, 2019, the Company entered into a convertible note payable for $38,000 bearing interest at 10% per annum.
On March 25, 2019, the Company entered into a convertible note payable for $50,000 bearing interest at 12% per annum.
On September 27, 2019, the Company entered into a convertible note payable for $45,000 bearing interest at 10% per annum.
On October 12, 2019, the Company entered into a convertible note payable for $100,000 bearing interest at 10% per annum.
On February 8, 2021, the Company entered into a convertible note payable for $53,500 bearing interest at 10% per annum.
On March 19, 2021, the Company entered into a convertible note payable for $38,500 bearing interest at 10% per annum.
On April 20, 2021, the Company entered into a convertible note payable for $43,750 bearing interest at 10% per annum.
On June 9, 2021, the Company entered into a convertible note payable for $43,750 bearing interest at 10% per annum.
On June 9, 2021, the Company entered into a convertible note payable for $88,000 bearing interest at 12% per annum.
On June 25, 2021, the Company entered into a convertible note payable for $110,000 bearing interest at 12% per annum.
On August 6, 2021, the Company entered into a convertible note payable for $110,000 bearing interest at 8% per annum.
On August 9, 2021, the Company entered into a convertible note payable for $333,333.33 bearing interest at 12% per annum.
On August 10, 2021, the Company entered into a convertible note payable for $200,000.00 bearing interest at 12% per annum.
On August 20, 2021, the Company entered into a convertible note payable for $100,000.00 bearing interest at 12% per annum.
On September 1, 2021, the Company entered into a convertible note payable for $27,500 bearing interest at 8% per annum.
On September 1, 2021, the Company entered into a convertible note payable for $55,000 bearing interest at 8% per annum.
On September 2, 2021, the Company entered into a convertible note payable for $155,000 bearing interest at 12% per annum.
On September 9, 2021, the Company entered into a convertible note payable for $11,000 bearing interest at 8% per annum.
NOTE 5. RELATED PARTY TRANSACTIONS
On March 1, 2015 the Company entered into a Line of Credit Agreement with P413 at an interest rate of 6%. This line of credit has a balance of $483,677 at December 31, 2021 and December 31, 2020, respectively. On May 2, 2018, this line of credit was extended to April 1, 2020. On September 1, 2018, the line of credit was extended to September 1, 2020. On September 1, 2021, the line of credit was extended to September 1, 2023.
The Company owed a director of the Company $660,919 and $172,567 for reimbursable expenses as of December 31, 2022 and December 31, 2021, respectively.
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