This is simply a payment on a debt that XSNX has with these guys. Look at this from the filing:
*Subject to the Ownership Limitation (defined below), the Reporting Persons may be deemed to beneficially own a
total of 69,300,503 shares of Common Stock, consisting of (i) 32,961,932 shares of Common Stock (“Shares”), and (ii) 36,338,571
shares of Common Stock issuable upon conversion of an Amended and Restated 12% Promissory Note (“Note”) in the original
principal amount of $293,496.00 (assuming no interest accrual and the current conversion price).
Then if you read further into the filing you will see that they reduced the number of shares from 69 million down to 53 million. Reason being they only want 9.9% of the OS.
So why give up those 16 million...it would take them over the 10% owner ship and then they are classified as 3rd party stake holders, or they are officially insiders to the company. As such any time they buy or sell shares of XSNX they would need to fill out a form 4 By owning just 9.9% there are simply investors and can sell those "53 million common shares" at any time with out reporting it.
Some where in the past Tom took a loan from Gemini and its now time for him to pay the piper...he paid it with common shares. Draw your own conclusion on what that will do. It removes a large part of the debt the company has...but it put 53 million shares out there... and by the way there is restrictions on how many of those shares can be sold at a time and when they can be sold...so dont worry this guy cant dump them all at once...
All goes back to Tom and if he can get some contracts... he gets some the stock will move up and Gemini selling any of those shares wont mean a thing... he does not and Gemini sells them then it will mean a lot, a lot of down, down, down goes the PPS.
Thats my take on it. But since the company does not communicate with shareholders we have no way of know what the F--K he is doing with this.
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