Im thinking, it doesnt matter...its gonna implode no matter how you look at it...
How the crap was/is goig, "making money" and how did they afford to "buy" a part of Addon for (300K)? Was this something like rob peter to pay paul? So is this how GOIG plans to make money? What "products" do they sell/have now?
On October 17, 2010, the Company entered into a Share Exchange Agreement by and
between GoIP Global, Inc. ("GOIG"), Malcolm Myers and the Company ("Agreement").
Pursuant to the Agreement, Malcolm Myers, the Company's controlling shareholder
("Myers"), agreed to exchange 35,000,000 of the Company's common stock owned by
Myers for 100,000,000 shares of GOIG common stock.
In addition, Myers assigned a convertible promissory note made by the Company
and payable to Myers in the principal amount of $500,000 to GOIG as additional
consideration for the issuance of the above described 100,000,000 shares of GOIG
common stock by GOIG to Myers.
As part of the Agreement, GOIG agreed to loan up to $300,000 to the Company,
such obligation being represented by a convertible secured promissory note in
the principal amount of up to $300,000 made payable by GOIG and payable to the
Company in monthly advances of at least $15,000 during the 12 months following
the date of the note. The note is silent of what happens if only the first 12
months of advances are made to the Company. The note is secured by all of the
assets of the Company and is convertible into the Company's common stock at a
conversion priceto be determined in the future by dividing $2,000,000 by the
number of shares outstanding on the date of conversion immediately before the
event of conversion.
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