I'm reposting the story of the convertibles as the
Post# of 40989
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Remember since ONCI is not an SEC filer, the conversions of toxic shares cannot theoretically start for at least one year. So the Canouse loans (JP Carey, Carpathia, Machiavelli) happened sometime between 8/1/18 and 10/31/18. Oscaleta is also Canouse controlled lender.
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I understand why you want to believe SB in the worst way but unfortunately according to his own filings his statement about the $60K is not true.
Here are the facts on convertible notes :
7/31/17
$32,633 Tide Pool Ventures
$26,500 Louvas
$30,000 WHC Capital
$ 1,500 LG Capital
======
$90,633
10/31/17
$32,633 Tide Pool Ventures
$26,500 Louvas
$30,000 WHC Capital
$ 1,500 LG Capital
$65,000 Livingston Asset Management
======
$155,633
1/31/18 - pd WHC Capital - $30,000
$32,633 Tide Pool Ventures
$26,500 Louvas
$ 1,500 LG Capital
$65,000 Livingston Asset Management
======
$125,633
4/30/18 - No activity
$125,633
7/31/18 - pd Livingston - $65,633
$32,633 Tide Pool Ventures
$26,500 Louvas
$ 1,500 LG Capital
======
$65,633
10/31/18 in footnotes added Oscaleta Partners $8250+$1000 interest in exchange for 9,475,664 shares occurred during the period ending 7/31/18. So this note was shoehorned in for the Annual Statement. SB did not disclose it in the period ending 7/31/18.
Oscaleta - Steven Hicks - Principal, frequent partner of Jeffrey Conouse.
10/31/18 - added Machiavelli - $288,000
$32,633 Tide Pool Ventures
$26,500 Louvas
$ 1,500 LG Capital
$288,000 Machiavelli
=======
$348,633
1/31/19
$20,000 Machiavelli
$80,000 Carpathia
$128,000 J.P. Carey
$32,633 Tide Pool Ventures
$26,500 Louvas
$ 1,500 LG Capital
========
$288,633
As a subsequent event to 1/31/19:
(i) On February 14, 2019 the Company issued 85,003,928 common shares upon the exercise of a conversion by Carpathia LLC of a $ 60,000 convertible note, plus accrued interest thereon,
Based upon the facts presented in On4's own filings you can see that there was NEVER a disclosure of a $60,000 convertible note from Carparthia unless the $60K redemption came from the $80K note that was issued DURING the period ending 1/31/19 (which would mean a 90 day note which I think is doubtful).
As further evidence, note how the Machiavelli note dropped from $288,000 to $228,000 in just one quarter. Then SB had to correct the breakdown from Machiavelli to the other Canouse controlled companies.
IMO, I think SB lied to you again.
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