OBJE has a pile of convertible notes and zero assets. It has not produced any revenue! OBJE shareholders are looking at massive dilution. Notice that none of the lenders is identified by name. Who owns these notes?

On August 31, 2011, the Company signed a Convertible Promissory Note which refinanced non-interest bearing advances in the amount of $511,468 into a convertible note payable. The Convertible Promissory Note bears interest at 10% per annum and is payable along with accrued interest on August 31, 2013. The Convertible Promissory Note is convertible into common stock at the option of the holder at the rate of $0.05 per share.

On September 26, 2011, the Company signed a Convertible Promissory Note which refinanced non-interest bearing advances in the amount of $78,885 into a convertible note payable. The Convertible Promissory Note bears interest at 10% per annum and is payable along with accrued interest on August 31, 2013. The Convertible Promissory Note is convertible into common stock at the option of the holder at the rate of $0.01 per share.

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.

On October 31, 2012, the Company signed a Convertible Promissory Note which refinanced non-interest bearing advances in the amount of $52,600 into a convertible note payable. The Convertible Promissory Note bears interest at 10% per annum and is payable along with accrued interest on October 31, 2013. The Convertible Promissory Note is convertible into common stock at the option of the holder at the rate of $0.01 per share.

On January 31, 2013, the Company signed a Convertible Promissory Note which refinanced non-interest bearing advances in the amount of $170,413 into a convertible note payable. The Convertible Promissory Note bears interest at 10% per annum and is payable along with accrued interest on January 31, 2015. The Convertible Promissory Note is convertible into common stock at the option of the holder at the rate of $0.10 per share.

SOME OF THE NOTES HAVE ALREADY BEEN CONVERTED CAUSING DILUTION.

On November 13, 2012, the Company effected a one-for-40 reverse stock split. All share and per share amounts have been retroactively restated to reflect the reverse split.

On September 4, 2012, the Company issued 126,300 shares of common stock as a result of the conversion of the Convertible Note Payable in the amount of $25,260.

On November 16, 2012, the Company issued 5,260,000 shares of common stock as a result of the conversion of the Convertible Note Payable in the amount of $52,600.

On November 26, 2012, the Company issued 1,160,000 shares of common stock as a result of the conversion of the Convertible Note Payable in the amount of $58,000.

On February 5, 2013, the Company issued 700,000 shares of common stock as a result of the conversion of the Convertible Note Payable in the amount of $35,000.

On April 2, 2013, the holders of the Convertible Note Payable dated September 26, 2011 elected to convert principal in the amount of $7,800 into 780,000 shares of common stock in accordance with the terms of the note.

On April 8, 2013, the holders of the Convertible Note Payable dated September 26, 2011 elected to convert principal in the amount of $7,800 into 780,000 shares of common stock in accordance with the terms of the note.