, holders of Bemax Inc ("Company") Convertible Notes due between October 19, 2016 and December 9 2016 (the "Notes"), had converted principal and interest due under the Notes in the aggregate amount of approximately $256,200 to 145,762,920 shares of Common Stock. The Notes were originally issued by the Company between the periods of April 19, 2016 to June 9, 2016 at an aggregate original value of $302,750.
As ofJanuary 4, 2017, there were 412,654,790 shares of Common Stock issued and outstanding following the above noted conversion of the convertible Notes, all as described above.
The above noted conversion reduce the total convertible notes amount outstanding by approximately 85% and improve the Company's balance sheet.
On April 4, 2017, as part of the first phase to penetrate the U.S. market, Bemax Inc., ("Company") will commence selling its two private label brands through Amazon.com ("Amazon"). The availability of the private label brands on Amazon will provides for the Company the launching of new sales channel and special sales offerings to customers.
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
Date: January 5, 2017
By: /s/ Taiwo Aimasiko
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