Really? Where is the money coming from to pay that $52,600?
Did you read the FORM 8-A12G filed on Oct. 4th to register common stock?
There were 12,834,339 shares of the Registrant’s common stock, $0.0001 par value outstanding as of July 10, 2013.
For the nine months ended May 31, 2013, the Company had a net loss of $575,135, and negative cash flow from operating activities of $287,136. As of May 31, 2013, the Company has negative working capital of $392,204.
Did OBJE pay off this note that was due in Sept?
On September 4, 2012, the Company signed a Convertible Promissory Note which refinanced non-interest bearing advances in the amount of $25,260 into a convertible note payable. The Convertible Promissory Note bears interest at 10% per annum and is payable along with accrued interest on September 4, 2013. The Convertible Promissory Note is convertible into common stock at the option of the holder at the rate of $0.01 per share.
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