Me personally no and I have not sold. They need to clean the oil thing up and see if anyone will invest in this company with the current share structure. I am sure anyone who would or will invest in this will have attorney's, accountants, etc... go over this with a fine tooth comb. if you look at the last quarterly it says on page f-10 that "In December 2009, an entity 25% owned by Mr. Wirtz and 50% owned by former management or board members loaned the company $20,000 in exchange for a promissory note at 12% per anum interest which is due on May 31, 2010.
This must be that Gem Light corp. Dillon and Wirtz own and I am not sure about what the conversion is on it. Maybe MrOWL can answer this one.
I am not sure why the company did this?
On September 15, 2009, Exobox Technologies, Corp. sold all right, title, and interest of all the SOS Patents to Scott Copeland in return for $95,000, resulting in a gain from assignment of patents of $95,000. On November 1st, 2009, Scott Copeland re-assigned all the SOS patents to Exobox Technologies, Corp. in exchange for a royalty equal to three percent (3%) of the net proceeds, if any, derived by Exobox from the SOS technology and issue directly to three (3) other individuals or entities of Copeland’s choosing, a collective total of 1,250,000 shares of Exobox common stock restricted under Rule 144.
Why would they sell everything to Scott and than buy it back?
Also the Financials say that they are "UNAUDITED" which means they (EXBX) did them. So any investor that was going to invest money in EXBX is going to have a personal CPA go over the books and all to protect their interest. It also says that the auditor says "Our auditor has substantial doubts as to our ability to continue as a going concern." That statement alone is going to make any potential investor take a good hard look.
Than we have this:
During October, 2009, Mr. Wittenburg, a former officer and director acquired 5,000,000 shares of our restricted common stock in consideration of $50,000.
During October, 2009, Mr. Dillon, a former officer and director acquired 3,500,000 shares of our restricted common stock in consideration of $35,000.
Maybe MrOwl can comment on what the conversion will be on this.
The company seems to be getting back shares in the front door but they seem to be going right back out the back door.
like this:
In August, September and October, 2009, the Company granted 27,707,500 shares of common stock to consultants for services performed . The shares were valued at $966,841 on the date of issuance.
So Scott and Reggie gave back about 120 million share +/-, than the company gave about 40 million to the non producing oil wells that have more debt than value. Past directors and present directors have all these shell corps. making loans to the company for shares with conversions and warrants. They are paying the new PR firm in shares. Not to mention that Dillon and Wirtz were / are getting paid in shares from the former employment they had and they gave a little less than 28 million shares to "CONSULTANTS".Many things to still be alarmed about and Kampa needs to fix these and quick.
We also need to worry about if they get financing what will be the terms on that? How many shares will they give the new investor and all. Unfortunately they give shares out like candy at Halloween. I am not turning negative and hope Kampa can get this done but he has a HUGE mountain of glass to climb, barefoot.
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