Item 1: Business
General
The Company was organized under the laws of the State of Nevada on December 29, 2004 under the name Merge II, Inc. The Company's year end is December 31.
On February 10, 2009, by unanimous written consent, the board of directors authorized an amendment to its certificate of incorporation to change the name of the corporation to PMX Communities, Inc. and increased the authorized common shares from 25,000,000 to 100,000,000. The amendment was filed on June 30, 2009.
On September 28, 2010, the Company formed PMX Gold, LLC, a Florida limited liability company as a wholly owned subsidiary of the Company to assist with evaluating and pursuing opportunities within the gold mining and retail gold sales industries.
On September 28, 2011, the Company formed PMX Gold Bullion Sales, Inc., a Florida limited liability company as a wholly owned subsidiary of the Company to manage and operate the manufacturing, supply and commercial distribution of proprietary fine gold products via its gold dispensing terminals.
On October 1, 2014, by unanimous written consent, the board of directors authorized an amendment to its certificate of incorporation to increase the authorized common shares from 100,000,000 to 500,000,000, as well as to authorize 10,000,000 preferred shares with a par value of $0.0001. The amendment was filed on December 11, 2014.
Operations
The Company has developed its PMX Gold Bullion Dispensing Terminal prototype called the MGIV and deployed the first prototype in Boca Raton, Florida, U.S.A. The terminal is an unmanned dispenser, which allows for gold dispensing and deposit and account management functions. The terminal also incorporated conventional ATM and touch-screen technology. After a successful 6 months test, the MGIV was removed in July 2013 from the first location.
The Company has been assigned the ownership rights to two U.S. Provisional Patent Applications and a final International Patent Application Number PCT/US2012/020486 (“Unattended Precious Metal Distribution System, Methods and Apparatus”), and has filed next stage patent applications for its proprietary precious metals machine, in Australia, South Africa and the United States of America.
Our business operations are currently focused in three areas. The first original focus was the consumer demand for essentially one commodity gold through a dispensing terminal. Specifically, we were addressing the markets of physical gold ownership by retail investors, as well as developing and offering an ancillary set of financial services that would complement the purchase and sale of gold and other precious metals by retail investors. Any decrease in demand for gold or gold investments could still materially adversely affect our revenues in this area and profitability and general business prospects.
Presently, we are developing a second revenue stream. Our online PMX Goldstore, which sells 24k bullion gold bars and coins, launched in August 2015. We are planning on initiating a third business operation which will involve the sales of our dispensing terminals globally through direct sales and distributor channels.
In the first quarter of 2015 we widened our terminal product line to develop new machines on the platform of the original MGIV gold terminal. PMX started due diligence in states that have passed legislation to permit businesses in medical marijuana and recreational marijuana dispensaries. The research was conducted to accumulate information to decide whether the terminal would be an efficient machine to place in dispensaries. The Company concluded that the ability to enter this new marketplace could potentially be a new revenue producing opportunity. The Company continues working with consultants and lawyers in these states to develop a compliant terminal to quickly deploy to dispensaries. The commercialization of any industry has barriers to entry that change quickly and PMX is hopeful that the terminal will meet them. There are risks that the Company must consider but since the terminal is built on the same platform as the MGIV gold terminal, PMX feels the costs to develop this terminal are minimal. In the second quarter of 2015 we continued our business strategy from the first quarter in hopes of building a strong revenue platform from our terminal’s placements in the near future. In the third quarter of 2015 we continued to develop our relationships both globally with our gold terminals and domestically with our gold and other product line machines. The Company continues to explore new and innovative platforms to hopefully develop multiple revenue streams for our dispensing terminals. The fourth quarter of 2015 was quiet and we continue as a management team to outsource diverse avenues to grow the company and seek new investors.
Employees
We employ part-time employees on an as needed basis. We also have various consultants, lawyers and others that work for us on different aspects of our operations. As operations increase and revenues allow, we will have to employ an additional undetermined number of employees, consultants and contracted professionals to assist with the development of the Company’s business plan.
Item 1A.
Item 1A. Risk Factors
Not applicable to a smaller reporting company.
Item 2.
Item 2. Properties
On March 1, 2015, we entered into a lease for property located at 4181 NW 1st Ave, Boca Raton, FL 33429. The deposit amount was $1,325. The property consists of 1,100 square feet, and rent is $15,000 per annum for a period of one year, plus sales tax. This lease was ended in November, 2015.
The Company signed a lease agreement with Reflections of Boca, LLC on February 22, 2012 for a period of three years for a total cost of at a cost of $67,431.84. The office space is located at 2200 NW Corporate Boulevard, Suite 220, Boca Raton, FL
The Company is currently using space at 2700 North Military Train #103, Boca Raton, FL 33431, which has been provided by a shareholder free of charge.
Item 3.
Item 3. Legal Proceedings
On June 19, 2015, the Company received a civil court summons regarding an unpaid note payable with a principal sum of $125,000. On February 26, 2016, a final judgment for $105,756 due to the note holder was recorded in Broward County, Florida.
Item 4.
Item 4. Mine Safety Disclosures
Not applicable
PART II
Item 5.
Item 5. Market For Company’s Common Equity, Related Stockholder Matters and Small Business Issuer Purchases of Equity Securities
Item 5(a)
a) Market Information. The Company began trading publicly on the OTCQB on December 15, 2010 under the symbol "PMXO.OB".
The following table sets forth the range of high and low bid quotations for our common stock. The quotations represent inter-dealer prices without retail markup, markdown or commission, and may not necessarily represent actual transactions.
High
Low
January 1, 2015 - March 31, 2015
$0.01
$0.00
April 1, 2015 - June 30, 2015
$0.01
$0.00
July 1, 2015 - September 30, 2015
$0.01
$0.00
October 1, 2015 - December 31, 2015
$0.01
$0.00
January 1, 2014 - March 31, 2014
$0.08
$0.01
April 1, 2014 - June 30, 2014
$0.05
$0.01
July 1, 2014 - September 30, 2014
$0.02
$0.00
October 1, 2014 - December 31, 2014
$0.01
$0.00
b) Holders. At April 14, 2016, there were approximately 74 shareholders of the Company.
c) Dividends. Holders of our common stock are entitled to receive such dividends as may be declared by our board of directors. No dividends on our common stock have ever been paid, and we do not anticipate that dividends will be paid on our common stock in the foreseeable future.
d) Securities authorized for issuance under equity compensation plans.
On August 29, 2011, the Company approved the 2011 Stock Awards Plan that authorizes the issuance of 6,000,000 common shares. This plan was amended on November 7, 2013 to increase the amount authorized for issuance under the plan to 10,000,000 common shares. The 2011 Stock Awards Plan Awards may be granted only to persons who, at the time of grant, are employees, consultants, members of the board or persons affiliated with the Company or any of its affiliates. An award may be granted on more than one
occasion to the same person, and, subject to the limitations set forth in the Plan, such award may include an incentive stock option or a nonqualified stock option, a stock appreciation right, a restricted stock award, a phantom stock award or any combination thereof. To date, 9,500,000 common shares have been issued under the Plan.
The Plan shall remain in effect until all awards granted under the Plan have been satisfied or expired.
e) Performance graph. Not applicable.
f) Sale of unregistered securities.
On January 18, 2014, the Company issued 2,000,000 shares of stock to its CEO, Lindsey Perry in exchange for services.
On March 6, 2014 the Company issued 2,500,000 shares of stock to one consultant under its Stock Awards Amended Plan and charged $75,000 to operations for the period ended September 30, 2014.
On April 21, 2014 the Company issued an aggregate of 750,000 shares of stock to 3 separate consultants. The aggregate fair market value of $18,675 was charged to operations for the period ended September 30, 2014.
On April 17, 2015, the Company issued 4,000,000 shares of stock to a company for services. These shares were valued at fair market value, which on the date of issuance was $16,000 and expensed as consulting expense.
All of the above securities were issued pursuant to an exemption from registration under Section 4(2) of the Securities Act of 1933 to sophisticated investors.
Not applicable
Item 5(b) Use of Proceeds. Not applicable.
Item 5(c) Purchases of Equity Securities by the issuer and affiliated purchasers.
During 2015 and 2014 we repurchased no shares of our common stock.
Item 6.
Item 6. Selected Financial Data.
Not applicable to smaller reporting companies.
Item 7.
Item 7. Management’s Discussions and Analysis of Financial Condition and Results of Operations.
Trends and Uncertainties
The registrant has developed its PMX Gold Bullion Dispensing Terminal prototype called the MGIV and deployed the first prototype in Boca Raton, Florida, U.S.A. The terminal is an unmanned dispenser, which allows for gold dispensing and deposit and account management functions. The terminal also incorporated conventional ATM and touch-screen technology. After a successful 6 months test, the MGIV was removed in July 2013 from the first location.
The registrant has been assigned the ownership rights to two U.S. Provisional Patent Applications and a final International Patent Application Number PCT/US2012/020486 (“Unattended Precious Metal Distribution System, Methods and Apparatus”), and has filed next stage patent applications for its proprietary precious metals machine, in Australia, South Africa and the United States of America.
Our business operations are currently focused in three areas. The first original focus was the consumer demand for essentially one commodity gold through a dispensing terminal. Specifically, we were addressing the markets of physical gold ownership by retail investors, as well as developing and offering an ancillary set of financial services that would complement the purchase and sale of gold and other precious metals by retail investors. Any decrease in demand for gold or gold investments could still materially adversely affect our revenues in this area and profitability and general business prospects.
Presently, we are developing a second revenue stream. Our online PMX Goldstore, which sells 24k bullion gold bars and coins, launched in August 2015. We are planning on initiating a third business operation which will involve the sales of our dispensing terminals globally through direct sales and distributor channels.
In the first quarter of 2015 we widened our terminal product line to develop new machines on the platform of the original MGIV gold terminal. PMX started due diligence in states that have passed legislation to permit businesses in medical marijuana and recreational marijuana dispensaries. The research was conducted to accumulate information to decide whether the terminal would be an efficient machine to place in dispensaries. The Company concluded that the ability to enter this new marketplace could potentially be a new revenue producing opportunity. The registrant continues working with consultants and lawyers in these states to develop a compliant terminal to quickly deploy to dispensaries. The commercialization of any industry has barriers to entry that change quickly and PMX is hopeful that the terminal will meet them. There are risks that the Company must consider but since the terminal is built on the same platform as the MGIV gold terminal, PMX feels the costs to develop this terminal are minimal. In
the second quarter of 2015 we continued our business strategy from the first quarter in hopes of building a strong revenue platform from our terminal’s placements in the near future. In the third quarter of 2015 we continued to develop our relationships both globally with our gold terminals and domestically with our gold and other product line machines. The Company continues to explore new and innovative platforms to hopefully develop multiple revenue streams for our dispensing terminals. The fourth quarter of 2015 was quiet and we continue as a management team to outsource diverse avenues to grow the company and seek new investors.
Results of Operations for the twelve months ended December 31, 2015 and 2014
For the year ended December 31, 2015, we did not record any revenues. We incurred depreciation costs of $33,408 and selling, general and administrative expenses of $86,175. We incurred interest expenses of $25,307 and interest expenses for related party loans of $9,810. As a result, we had a net loss of $119,205 for the year ended December 31, 2015.
Comparatively, for the year ended December 31, 2014, we recorded net sales of $6,234. Our cost of sales was $10,521, resulting in a gross loss of $4,287. We incurred depreciation expenses of $31,737 and selling, general and administrative expenses of $264,355. We paid interest expenses of $14,750 and interest expenses for related party loans of $18,964. As a result, we had a net loss of $334,093 for the year ended December 31, 2014.
The $6,234 decrease in net sales for the year ended December 31, 2015 compared to the year ended December 31, 2014 is due to decreased operations as we work to shift our business focus from gold vending machines to exploring new markets for our vending machines. We had a decrease in selling, general and administrative expenses of $178,180 for the year ended December 31, 2015 as a result of those decreased operations. Due to the reduction of our selling, general and administrative expenses, we had a decrease in our net loss of $214,888 for the year ended December 31, 2015.
Liquidity and Capital Resources
For the year ended December 31, 2015, we had net loss of $119,205. We recorded an adjustment due to the gain on forgiveness of accounts payable of $35,495, due to depreciation of $33,408, and due to the issuance of common stock for services of $16,000. We had an increase of $4,500 due to a security deposit, an increase of $1,804 due to accounts payable, and an increase of $41,773 due to accrued interest. As a result, we had net cash used in operating activities of $57,215 for the year ended December 31, 2015.
For the year ended December 31, 2014, we recorded a net loss of $334,093. We recorded an adjustment due to depreciation of $31,737 and due to the issuance of common stock for services of $138,675. We had an increase of $25,010 due to inventory, an increase of
$1,000 due to prepaid expenses and other current assets, and an increase of $938 due to security deposits. We had an increase of $10,775 due to accounts payable, an increase of $33,755 due to accrued interest, and a decrease of $10,612 due to accrued expenses. As a result, we had net cash used in operating activities of $102,815 for the year ended December 31, 2014.
For the years ended December 31, 2015 and 2014, we did not pursue any investing activities.
For the year ended December 31, 2015, we received $57,202 as proceeds from related party notes payable, resulting in net cash provided by financing activities of $57,202 for the period.
For the year ended December 31, 2014, we received $99,872 as proceeds from related party notes payable, resulting in net cash provided by financing activities of $99,872 for the period.
Our internal and external sources of liquidity have included proceeds raised from subscription agreements and private placements and advances from related parties. We are currently not aware of any trends that are reasonably likely to have a material impact on our liquidity. We are attempting to increase the sales to raise much needed cash for the fulfillment of the Company’s business plan. It is our intent to secure a market share in the retail gold and related financial services market which we feel will require additional capital over the long term to undertake sales and marketing initiatives, further our research and development, and to manage timing differences in cash flows from the time our PMX Gold Bullion Account becomes active and the PMX Gold ATM terminals are developed and put into use and positive cash flow product is generated.
Our capital strategy is to increase our near and mid term cash balance through financing transactions, including the issuance of debt and/or equity securities. Once our PMX Gold ATM terminal prototypes have been developed and put into the field we intend to work to develop a pro-forma financial model based on their results and pursue traditional Wall Street financing.
Off-Balance Sheet Arrangements
The Company had no material off-balance sheet arrangements as of December 31, 2015.
Critical Accounting Policies and Estimates Management's discussion and analysis of its financial condition and results of operations is based upon our consolidated financial statements, which have been prepared in accordance with U.S. generally accepted accounting principles.
The preparation of these financial statements requires us to make estimates and judgments that affect the reported amounts of assets, liabilities, revenue and expenses, and related disclosure of contingent assets and liabilities. On an on-going basis, we evaluate our estimates, including those related to the reported amounts of revenues and expenses and the valuation of our assets and contingencies. We believe our estimates and assumptions to be reasonable under the circumstances. However, actual results could differ from those estimates under different assumptions or conditions. Our financial statements are based on the assumption that we will continue as a going concern. If we are unable to continue as a going concern we would experience additional losses from the write-down of assets.
The Company uses the fair value recognition provision of ASC 718, “Compensation-Stock Compensation,” which requires the Company to expense the cost of employee services received in exchange for an award of equity instruments based on the grant date fair value of such instruments. The Company uses the Black-Scholes option pricing model to calculate the fair value of any equity instruments on the grant date.
The Company also uses the provisions of ASC 505-50, “Equity Based Payments to Non-Employees,” to account for stock-based compensation awards issued to non-employees for services. Such awards for services are recorded at either the fair value of the services rendered or the instruments issued in exchange for such services, whichever is more readily determinable, using the measurement date guidelines enumerated in ASC 505-50.
New Accounting Pronouncements
The Company has adopted all recently issued accounting pronouncements. The adoption of the accounting pronouncements, including those not yet effective, is not anticipated to have a material effect on the financial position or results of operations of the Company.
Item 7a.
Item 7a. Quantitative And Qualitative Disclosures About Market Risk
Not applicable.
Item 8.
Item 8. Financial Statements And Supplementary Data
PMX Communities, Inc.
Page
Report of Independent Registered Public Accounting Firm
Audited Consolidated Balance Sheets of December 31, 2015 and 2014
Audited Consolidated Statements of Operations for the Years ended December 31, 2015 and 2014
Audited Consolidated Statement of Changes in Stockholders' Deficit
Audited Consolidated Statements of Cash Flows for the Years ended December 31, 2015 and 2014
Notes to Consolidated Financial Statements
STEVENSON & COMPANY CPAS LLC
A PCAOB Registered Accounting Firm
12421 N Florida Ave.
Suite.113
Tampa, FL 33612
{813)443-0619
REPORT OF INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM
The Board of Directors and Stockholders
PMX Communities, Inc.
We have audited the accompanying balance sheets of PMX Communities, Inc. as of December 31, 2015, and the related statements of operations, stockholders’ deficit, and cash flows for the years ended December 31, 2015 and 2014. These financial statements are the responsibility of the Company’s management. Our responsibility is to express an opinion on these financial statements based on our audits.
We conducted our audits in accordance with the standards of the Public Company Accounting Oversight Board (United States). Those standards require that we plan and perform the audits to obtain reasonable assurance about whether the financial statements are free of material misstatement. The Company is not required to have, nor were we engaged to perform, an audit of its internal control over financial reporting. Our audits included consideration of internal control over financial reporting as a basis for designing audit procedures that are appropriate in the circumstances, but not for the purpose of expressing an opinion on the effectiveness of the Company’s internal control over financial reporting. Accordingly, we express no such opinion. An audit includes examining, on a test basis, evidence supporting the amounts and disclosures in the financial statements, assessing the accounting principles used and significant estimates made by management, as well as evaluating the overall financial statement presentation. We believe that our audits provide a reasonable basis for our opinion.
In our opinion, the financial statements referred to above present fairly, in all material respects, the financial position of PMX Communities, Inc. as of December 31, 2015 and 2014 and the results of its operations and its cash flows for the years then ended in conformity with accounting principles generally accepted in the United States of America.
The accompanying financial statements have been prepared assuming that the Company will continue as a going concern. As shown in the accompanying financial statements, the Company has significant net losses and cash flow deficiencies. Those conditions raise substantial doubt about the Company’s ability to continue as a going concern. Management’s plans regarding those matters are described in Note 2. The financial statements do not include any adjustments that might result from the outcome of this uncertainty.
/s/ Stevenson & Company CPAS LLC
Stevenson & Company CPAS LLC
Tampa, Florida
April 19, 2016
PCAOB Registered
AICPA Member
PMX Communities, Inc. and Subsidiaries
Consolidated Balance Sheets
As of December 31, 2015 and 2014
December 31,
December 31,
Assets
Current assets
Cash and cash equivalents
$ -
$ 13
Total current assets
-
Fixed assets
Property and equipment , net
63,030
96,438
Other assets
Security deposits
-
4,500
Total assets
$ 63,030
$ 100,951
Liabilities and Stockholders' Deficit
Current liabilities
Accounts Payable
$ 35,379
$ 69,070
Accrued Interest
92,017
70,656
Accrued Interest - related parties
-
18,548
Related parties - short-term loan
-
230,873
Notes payable - short term
153,367
153,367
Total current liabilities
280,764
542,514
Notes payable - long term
-
-
Total Liabilities
280,764
542,514
Stockholders' deficit
Preferred stock, $0.0001 par value; authorized 10,000,000 shares, no shares issued or outstanding
-
-
Common stock, $0.0001 par value; authorized 500,000,000
shares; issued and outstanding 97,115,124 and 93,115,124 shares as of December 31, 2015 and December 31, 2014
9,711
9,311
Common stock payable
38,150
Additional paid-in capital
3,024,261
2,719,776
Accumulated deficit
(3,289,855)
(3,170,650)
Total stockholders' deficit
(217,733)
(441,563)
Total liabilities and stockholders' deficit
$ 63,030
$ 100,951
See accompanying notes to financial statements
PMX Communities, Inc. and Subsidiaries
Consolidated Statements of Operations
For the Years Ended December 31, 2015 and 2014
Net sales
$ -
$ 6,234
Cost of sales
-
10,521
Gross loss
-
(4,287)
Costs and expenses:
Depreciation
33,408
31,737
Selling, general and administrative expenses
86,175
264,355
119,583
296,092
Loss from operations
(119,583)
(300,379)
Interest expense
(25,307)
(14,750)
Interest expense - related parties
(9,810)
(18,964)
Settlement income
35,495
-
(Loss) before income taxes
(119,205)
(334,093)
Income taxes
-
-
Net (loss)
$ (119,205)
$ (334,093)
Basic net income (loss) per share
$ 0.00
$ (0.01)
Weighted average shares outstanding
Basic
95,950,289
87,978,758
See accompanying notes to financial statements.
PMX Communities, Inc. and Subsidiaries
Consolidated Statements of Changes in Stockholders' Deficit
For the Years Ended December 31, 2015 and 2014
See accompanying notes to financial statements.
PMX Communities, Inc. and Subsidiaries
Consolidated Statements of Cash Flows
For the Years Ended December 31, 2015 and 2014
Cash flows from operating activities
Net (loss)
$ (119,205)
$ (334,093)
Adjustments to reconcile net (loss) to net
cash provided by (used in) operating activities:
Settlement income
(35,495)
-
Depreciation
33,408
31,737
Issuance of common stock for services
16,000
138,675
Change in assets and liabilities
Inventory
-
25,010
Prepaid expenses and other current assets
-
1,000
Security deposit
4,500
Accounts payable
1,804
10,775
Accrued interest
41,773
33,755
Accrued expenses
-
(10,612)
Net cash used in operating activities
(57,215)
(102,815)
Cash flows from financing activities
Proceeds from related party notes payable
57,202
99,872
Net cash provided by financing activities
57,202
99,872
Net decrease in cash and cash equivalents
(13)
(2,943)
Cash and cash equivalents, beginning of fiscal year
2,956
Cash and cash equivalents, end of period
$ -
$ 13
Supplementary information:
Cash paid for :
Interest
$ -
$ -
Income taxes
$ -
$ -
Non-cash transactions:
Common stock issued for services
$ 16,000
$ 138,675
Conversion of notes payable and accrued interest into common stock
$ 327,000
$ 59,524
See accompanying notes to financial statements.
PMX Communities, Inc. and Subsidiaries
Notes to Consolidated Financial Statements
For the Years Ended December 31, 2015 and December 31, 2014
NOTE 1 - DESCRIPTION OF BUSINESS
PMX Communities, Inc. "PMX" was organized under the laws of the State of Nevada on December 29, 2004 under the name Merge II, Inc. PMX's year end is December 31.
On September 28, 2010, the Company formed PMX Gold, LLC, (“PMX Gold”) a Florida limited liability company as a wholly owned subsidiary of the Company to assist with evaluating and pursuing opportunities within the Gold Mining and Retail Gold Sales Industries.
On September 28, 2011, the Company formed PMX Gold Bullion Sales Inc. (“PMX Bullion”), a Florida corporation as a wholly owned subsidiary of the Company.
PMX, (through its wholly owned subsidiaries PMX Gold, LLC and PMX Gold Bullion Sales Inc.) focuses on the development of leveraged opportunities within the Retail Gold Sales and Gold Mining Industries.
PMX Communities, Inc. and its wholly- owned subsidiaries are hereafter referred to as “the Company”.
NOTE 2 - GOING CONCERN
As reflected in the accompanying consolidated financial statements, the Company had a net (loss) of $(119,205) and ($334,093) for the years ended December 31, 2015 and 2014, respectively. The Company has a working capital deficit of $280,763 and a accumulated deficit of $3,289,855 as of December 31, 2015.
Based on the above considerations, there is a substantial doubt about the ability of the Company to continue as a going concern. The ability of the Company to continue as a going concern is dependent on the Company's ability to further implement its business plan and/or attain working capital through financing or equity. Management hopes that the continued placement of precious metals machines in the U.S.A. and the potential of a global rollout of additional dispensing terminals will bring sufficient revenues and investment into the Company to sustain its growth and operations. Furthermore, the registrant feels organic growth through a new acquisition strategy in their other subsidiaries will assist the registrant in achievement of their goals. The financial statements do not include any adjustments that might be necessary if the Company is unable to continue as a going concern.
NOTE 3 - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
Basis of Presentation
Our financial statements are stated in United States dollars and have been prepared in accordance with accounting principles generally accepted in the United States ("U.S. GAAP").
Cash and Cash Equivalents
The Company considers all highly liquid debt instruments with original maturities of three months or less to be cash equivalents.
Use of Estimates
The preparation of financial statements in conformity with generally accepted accounting principles requires management to make estimates and assumptions that affect certain reported amounts and disclosures. Accordingly, actual results could differ from those estimates. Significant estimates include the valuation of inventories, deferred tax assets and equity transactions.
Principles of Consolidation
The consolidated financial statements include the accounts of PMX Communities, Inc. and its wholly-owned subsidiaries, PMX Gold, LLC and PMX Gold Bullion Sales, Inc. All inter-company transactions have been eliminated.
Financial Instruments and Fair Value
The Company’s balance sheet includes certain financial instruments, including cash, accounts payable, accrued expenses and notes payable. The carrying amounts of current assets and current liabilities approximate their fair value because of the relatively short period of time between the origination of these instruments and their expected realization.
Fair value estimates discussed herein are based upon certain market assumptions and pertinent information available to management as of December 31, 2015. The respective carrying value of certain on-balance-sheet financial instruments approximated their fair values due to the short-term nature of these instruments.
Equipment
Equipment is stated at cost, less accumulated depreciation. Depreciation is provided using the straight line method over the estimated useful life of five years for equipment, seven years for molds and five years for furniture and fixtures.
Impairment of Long-Lived Assets
The Company evaluates the recoverability of long-lived assets and the related estimated remaining useful lives when events or circumstances lead management to believe that the carrying value of an asset may not be recoverable and the undiscounted cash flows estimated to be generated by those assets are less than the assets’ carrying amounts. In such circumstances, those assets are written down to estimated fair value. The Company recognizes an impairment loss when the sum of expected undiscounted future cash flows is less than the carrying amount of the asset. The amount of impairment is measured as the difference between the asset's estimated fair value and its book value.
Common Stock, Common Stock Options and Warrants
The Company uses the fair value recognition provision of ASC 718, "Compensation-Stock Compensation," which requires the Company to expense the cost of employee services received in exchange for an award of equity instruments based on the grant date fair value of such instruments. The Company uses the Black-Scholes option pricing model to calculate the fair value of any equity instruments on the grant date.
The Company also uses the provisions of ASC 505-50, "Equity Based Payments to Non-Employees," to account for stock-based compensation awards issued to non-employees for services. Such awards for services are recorded at either the fair value of the services rendered or the instruments issued in exchange for such services, whichever is more readily determinable, using the measurement date guidelines enumerated in ASC 505-50.
Income Taxes
Under the asset and liability method prescribed under ASC 740, Income Taxes, the Company uses the liability method of accounting for income taxes. The liability method measures deferred income taxes by applying enacted statutory rates in effect at the balance sheet date to the differences between the tax basis of assets and liabilities and their reported amounts on the financial statements. The resulting deferred tax assets or liabilities are adjusted to reflect changes in tax laws as they occur. A valuation allowance is provided when it is more likely than not that a deferred tax asset will not be realized.
The Company recognizes the financial statement benefit of an uncertain tax position only after considering the probability that a tax authority would sustain the position in an examination. For tax positions meeting a "more-likely-than-not" threshold, the amount recognized in the financial statements is the benefit expected to be realized upon settlement with the tax authority. For tax positions not meeting the threshold, no financial statement benefit is recognized. As of December 31, 2015 and 2014, the Company had no uncertain tax positions. The Company recognizes interest and penalties, if any, related to uncertain tax positions as general and administrative expenses. The Company currently
has no federal or state tax examinations nor has it had any federal or state examinations since its inception. The tax years for December 31, 2011-2015 remain subject to review by federal and state tax authorities.
Income tax expense (benefit) consists of the following for the years ended December 31:
Current:
Deferred
(6,100)
(54,000)
Federal
(35,100)
(64,800)
State
(3,700)
(6,900)
Total
(44,900)
(125,700)
Less reserve for allowance
44,900
125,700
Total income tax expense (benefit)
-
-
The net deferred income tax assets and (liability) consist of the following as of December 31:
Deferred:
Net deferred tax asset and liabilities
1,261,600
1,216,700
Less reserve for allowance
1,261,600
1,216,700
Total deferred tax assets and liabilities
-
-
Revenue Recognition
The Company recognizes revenue when it is realized and realizable.
- Persuasive evidence of an arrangement exists; and
- Delivery has occurred; and
- Price is fixed or determinable; and
- Collectability is reasonably assured
Subject to these criterions, the Company recognizes revenue at the time the merchandise is purchased and the machine dispenses the relevant merchandise. The Company offers its individual customers a 14-day warranty if the item is returned and if the TEP packaging is not broken. The customer will receive their money back. The Company estimates an allowance for sales returns based on historical experience with product returns. The Company closely follows the provisions of ASC 605, Revenue Recognition, which includes the guidelines of Staff Accounting Bulletin No. 104 as described above.
Income (loss) Per Common Share
Basic income (loss) per share is calculated using the weighted-average number of common shares outstanding during each reporting period. Diluted loss per share includes potentially dilutive securities such as outstanding options and warrants, using various methods such as the treasury stock or modified treasury stock method in the determination of dilutive shares outstanding during each reporting period. As of December 31, 2015 and 2014, the Company had no warrants issued and outstanding.
Recent Authoritative Accounting Pronouncement
In August 2014, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (“ASU”) No. 2014-15, “Presentation of Financial Statements-Going Concern (Subtopic 205-40): Disclosure of Uncertainties about an Entity’s Ability to Continue as a Going Concern” (“ASU 2014-15”). ASU 2014-15 is intended to define management’s responsibility to evaluate whether there is substantial doubt about an organization’s ability to continue as a going concern and to provide related footnote disclosures. The amendments in this ASU are effective for reporting periods beginning after December 15, 2016, with early adoption permitted. The Company is currently assessing the impact the adoption of ASU 2014-15 will have on its financial statements.
Management does not believe that any recently issued, but not yet effective accounting pronouncements, if adopted, would have a material effect on the accompanying consolidated financial statements.
NOTE 4 - PROPERTY AND EQUIPMENT
Components of property and equipment are as follows:
December 31, 2015
December 31, 2014
Gold Machines
$ 146,224
$ 146,224
Molds
8,909
8,909
Office Equipment
1,600
1,600
Office Furniture and Fixtures
3,366
3,366
Less: Accumulated Depreciation
(97,069)
(63,661)
Property and Equipment, net
$ 63,030
$ 96,438
Depreciation for the year’s ended December 31, 2015 and 2014 was $33,408 and $31,737, respectively.
NOTE 5 - NOTES PAYABLE, RELATED PARTY
Promissory Notes to related parties carry outstanding principal balances of $0 and $230,873 as of December 31, 2015 and December 31, 2014, respectively. Related parties accrued interest was $0 and $18,548 as of December 31, 2015 and December 31, 2014, respectively.
NOTE 6 - NOTES PAYABLE
Promissory Notes carry outstanding principal balances of $153,367 and $153,367 as of December 31, 2015 and 2014, respectively. Accrued interest was $92,017 and $70,656 as of December 31, 2015 and 2014, respectively. As of December 31, 2015 all of these notes are due on demand as their maturity dates have passed. All of these notes bear interest at rates ranging from 5% to 10% per annum.
NOTE 7 - EQUITY FINANCING
On December 11, 2014, the Company amended its Articles of Incorporation. The following are the authorized shares for each class:
Class
Par
Authorized
Preferred
0.0001
10,000,000
Common
0.0001
500,000,000
Shares Issued for Services
On January 18, 2014, the Company issued 2,000,000 shares of stock to its CEO, Lindsey Perry in exchange for services.
On March 6, 2014 the Company issued 2,500,000 shares of stock to one consultant under its Stock Awards Amended Plan and charged $75,000 to operations for the period ended September 30, 2014.
On April 21, 2014 the Company issued an aggregate of 750,000 shares of stock to 3 separate consultants. The aggregate fair market value of $18,675 was charged to operations for the period ended September 30, 2014.
On April 17, 2015, the Company issued 4,000,000 shares of stock to a company for services. These shares were valued at fair market value, which on the date of issuance was $16,000 and expensed as consulting expense.
Warrants
No warrants were issued and outstanding during the years ended December 31, 2015 and 2014.
Shares Issued in Exchange for Notes Payable and Accrued Interest
On September 28, 2014, one noteholder converted his Promissory Notes with a principal of $47,600 and accrued interest $11,924, for a total balance of $59,524, which was exchanged for 5,952,360 shares of common stock. The exchange shares were valued at the fair market trading price, therefore no gain or loss on the extinguishment of debt was recognized.
NOTE 8 - RELATED PARTY TRANSACTIONS
During the year ended December 31, 2015, one shareholder and his beneficial interests made aggregate loans of $57,202 to the Company. The loans bear interest at 5% and each have a six-month maturity. In December 2015, these new loans, prior year, related part loans and related accrued interest totaling approximately $327,000 were settled by the holders agreeing to receive 10,900,000 shares which were valued at $38,150. The remaining balances of the loans were recorded as a capital contribution.
NOTE 9 - COMMITMENTS AND CONTINGENCIES
In January 2015, the Company entered into a one year lease agreement for office space for $1,325 per month beginning March 1, 2015. The lease was ended in November 2015.
Item 9.
Item 9. Changes In and Disagreements With Accountants On Accounting And Financial Disclosure
None
Item 9a.
Item 9a. Controls and Procedures
Evaluation of Disclosure Controls and Procedures
Under the supervision and with the participation of our management, including our chief executive officer and chief financial officer, we conducted an evaluation of our disclosure controls and procedures, as such term is defined under Rule 13a-15(e) and Rule 15d-15(e) promulgated under the Securities Exchange Act of 1934, as amended, as of December 31, 2015. We do not have sufficient segregation of duties within accounting functions, which is a basic internal control. Due to our size and nature, segregation of all conflicting duties may not always be possible and may not be economically feasible. However, to the extent possible, the initiation of transactions, the custody of assets and the recording of transactions should be performed by separate individuals. Based on this evaluation, our chief executive officer and chief financial officer have concluded such controls and procedures to be not effective as of December 31, 2015 to ensure that information required to be disclosed by the issuer in the reports that it files or submits under the Act is recorded, processed, summarized and reported, within the time periods specified in the Commission's rules and forms and to ensure that information required to be disclosed by an issuer in the reports that it files or submits under the Act is accumulated and communicated to the issuer's management, including its principal executive and principal financial officers, or persons performing similar functions, as appropriate to allow timely decisions regarding required disclosure.
Management’s Annual Report on Internal Control over Financial Reporting
Our management is responsible for establishing and maintaining adequate internal control over financial reporting. Our internal control over financial reporting is the process designed by and under the supervision of our chief executive officer and chief financial officer, or the persons performing similar functions, to provide reasonable assurance regarding the reliability of our financial reporting and the preparation of our financial statements for external reporting in accordance with accounting principles generally accepted in the United States of America. These officers have evaluated the effectiveness of our internal control over financial reporting using the criteria set forth by the Committee of Sponsoring Organizations of the Treadway Commission in Internal Control over Financial Reporting - Guidance for Smaller Public Companies.
Our chief executive officer and chief financial officer have assessed the effectiveness of our internal control over financial reporting as of December 31, 2015 and concluded that it was not effective because of the material weakness described below:
In connection with the preparation of our consolidated financial statements for the year ended December 31, 2015, material weaknesses became evident to management regarding our inability to generate all the necessary disclosure for inclusion in our filings with the Securities and Exchange Commission due to the lack of resources and segregation of duties. A material weakness is a significant deficiency in one or more of the internal control components that alone or in the aggregate precludes our internal controls from reducing to an appropriately low level the risk that material misstatements in our consolidated financial statements will not be prevented or detected on a timely basis.
The Company hired an outsource certified public accountant to work with our CFO and management on an as needed basis to eliminate the material weaknesses. We will continue to aggressively recruit experienced professionals to ensure that we include all necessary disclosures in our filings with the Securities and Exchange Commission. Although we believe that this corrective step will enable management to conclude that the internal controls over our financial reporting are effective when the staff is trained, we cannot assure you these steps will be sufficient. We may be required to expend additional resources to identify, assess and correct any additional weaknesses in internal control.
This annual report does not include an attestation report of our registered public accounting firm regarding internal control over financial reporting. Management’s report was not subject to attestation by the Company’s registered public accounting firm pursuant to rules of the Securities and Exchange Commission that permit the Company to provide only management’s report in this annual report.
Evaluation of Changes in Internal Control over Financial Reporting
Our chief executive officer and chief financial officer have evaluated changes in our internal controls over financial reporting that occurred during the year ended December 31, 2015. Based on that evaluation, our chief executive officer and chief financial officer, or those persons performing similar functions, did not identify any change in our internal control over financial reporting that has materially affected, or is reasonably likely to materially affect, our internal control over financial reporting.
Important Considerations
The effectiveness of our disclosure controls and procedures and our internal control over financial reporting is subject to various inherent limitations, including cost limitations, judgments used in decision making, assumptions about the likelihood of future events, the soundness of our systems, the possibility of human error, and the risk of fraud. Moreover, projections of any evaluation of effectiveness to future periods are subject to
the risk that controls may become inadequate because of changes in conditions and the risk that the degree of compliance with policies or procedures may deteriorate over time. Because of these limitations, there can be no assurance that any system of disclosure controls and procedures or internal control over financial reporting will be successful in preventing all errors or fraud or in making all material information known in a timely manner to the appropriate levels of management.
Item 9b.
Item 9b. Other Information
None
PART III
Item 10.
Item 10. Directors, Executive Officers and Corporate Governance.
Our bylaws provide that the number of directors who shall constitute the whole board shall be such number as the board of directors shall at the time have designated. We confirm that the number of authorized directors has been set at one or more in number pursuant to our bylaws.
Each director shall be selected for a term of one year and until his successor is elected and qualified. Vacancies are filled by a majority vote of the remaining directors then in office with the successor elected for the unexpired term and until the successor is elected and qualified. The directors, officers and significant employees are as follows:
NAME
AGE
POSITIONS HELD
SINCE
Lindsey Perry
CEO/ Director/ CFO/ Controller
April 19, 2012 to present
Business Experience of Officers, Directors and Significant Employees
Lindsey R. Perry, Jr. has been the chairman, chief executive officer, and chief financial officer of PMX Communities since April 19, 2012. Mr. Perry graduated from Bucknell University in 1977 with a Bachelor of Science Degree in accounting.
The above named director will serve in his capacity as director until our next annual shareholder meeting to be held within six months of our fiscal year's close. Directors are elected for one-year terms.
Section 16(a) Beneficial Ownership Reporting Compliance
To our knowledge, other than Lindsey Perry, no director, officer or beneficial owner of more than ten percent of any class of our equity securities, failed to file on a timely basis reports required by Section 16(a) of the Exchange Act during 2015.
Code of Ethics Policy
We have not yet adopted a code of ethics that applies to our principal executive officer, principal financial officer, principal accounting officer or controller or persons performing similar functions.
Corporate Governance
There have been no changes in any state law or other procedures by which security holders may recommend nominees to our board of directors. In addition to having no nominating committee for this purpose, we currently have no specific audit committee and no audit committee financial expert. Based on the fact that our current business affairs are simple, any such committees are excessive and beyond the scope of our business and needs.
Family Relationships
There are no family relationships between our officers and directors.
Involvement in Certain Legal Proceedings
None of our directors, executive officers and control persons has been involved in any of the following events during the past ten years:
·
Any bankruptcy petition filed by or against any business of which such person was a general partner or executive officer either at the time of the bankruptcy or within two years prior to that time,
·
Any conviction in a criminal proceeding or being subject to any pending criminal proceeding (excluding traffic violations and other minor offenses);
·
Being subject to any order, judgment or decree, not subsequently reversed, suspended or vacated, of any court of competent jurisdiction, permanently or temporarily enjoining, barring, suspending or otherwise limiting his or her involvement in any type of business, securities or banking activities; or
·
Being found by a court of competent jurisdiction (in a civil action), the Commission or the Commodity Futures Trading Commission to have violated a federal or state securities or commodities law, and the judgment has not been reversed, suspended, or vacated.
Item 11.
Item 11. Executive Compensation
We may elect to award a cash bonus to key employees, directors, officers and consultants based on meeting individual and corporate planned objectives.
Name and Principal Position
Year
Salary
Bonus
Stock Awards
Option Awards
Non-Equity Incentive Plan Comp
Nonqualified deferred Comp Earnings
All Other Comp
Total
Lindsey Perry
-
-
-
-
-
-
-
-
CEO/ CFO
-
-
20,000
-
-
-
-
20,000
Item 12.
Item 12. Securities Ownership of Certain Beneficial Owners and Management and Related Stockholder Matters
The following table sets forth, as of April 14, 2016, the number and percentage of our outstanding shares of common stock owned by (i) each person known to us to beneficially own more than 5% of its outstanding common stock, (ii) each director, (iii) each named executive officer and significant employee, and (iv) all officers and directors as a group.
The number of shares listed below includes shares that each shareholder listed in the table has the right to acquire beneficial ownership of within 60 days.
Name and Address
Number & Class of Shares
Percentage of Outstanding Common Shares
Lindsey R. Perry, Jr. (1)
7,775,684 direct
8.01%
6505 NW 39th Terrace
Boca Raton, FL 33496
Directors/ Officers
7,775,684 direct
8.01%
As a group one (1) person
Mark Goldstein
1,620,975 direct
1.67%
2700 N. Military Trail
38,952,360 indirect (2)
40.11%
Suite 130
Boca Raton, FL 33431
(1)Mr. Perry is an officer and director of PMX Communities.
(2)Represents common shares held by Dickinson Capital, LLC (a Florida limited liability company) that is controlled by Mark B. Goldstein.
Based upon 97,115,124 outstanding common shares as of April 14, 2016.
Item 13.
Item 13. Certain Relationships and Related Transactions, and Director Independence
In 2015 and 2014, Mark Goldstein loaned the Company $57,202 and $99,872, respectively.
On January 6, 2014, the Company issued 2,000,000 common shares to Lindsey Perry for future services.
Director Independence
All of our directors are independent as such term is defined by a national securities exchange or an inter-dealer quotation system. During the years ended December 31, 2015 and 2014 there were no transactions with related persons other than as described in the section below.
Item 14.
Item 14. Principal Accounting Fees and Services
On August 3, 2015, the Company dismissed Messineo & Co., CPAs, LLC as their registered independent public accountant. On August 3, 2015, the Company engaged Cutler & Co., LLC as their new independent public accountant. On November 16, 2015, Cutler & Co., LLC resigned as the Company’s registered independent public accountant. On November 16, 2015, the Company engaged Stevenson & Company CPAs LLC as their new independent public accountant. The following shows the fees that were billed for the audit and other services provided by such firms for 2015 and 2014.
Audit fees paid to Messineo & Co.: 2015 - $12,500, 2014 - $17,500
Audit fees paid to Cutler & Co., LLC: 2015 - $3,000
Audit fees paid to Stevenson & Company CPAs LLC: 2015 - $15,500
Audit related fees paid to Messineo & Co.: 2015 - $0, 2014 - $0
Audit related fees paid to Cutler & Co., LLC: 2015 - $0
Audit related fees paid to Stevenson & Company CPAs LLC: 2015 - $0
Tax fees paid to Messineo & Co.: 2015 - $0, 2014 - $0
Tax fees paid to Cutler & Co., LLC: 2015 - $0
Tax fees paid to Stevenson & Company CPAs LLC: 2015 - $0
All other fees paid to Messineo & Co.: 2015 - $0, 2014 - $0
All other fees paid to Cutler & Co., LLC: 2015 - $0
All other fees paid to Stevenson & Company CPAs LLC: 2015 - $0
Audit Fees - This category includes the audit of our annual financial statements, review of financial statements included in our Form 10-Q Quarterly Reports and services that are normally provided by the independent auditors in connection with engagements for those fiscal years. This category also includes advice on audit and accounting matters that arose during, or as a result of, the audit or the review of interim financial statements.
Audit-Related Fees - This category consists of assurance and related services by the independent auditors that are reasonably related to the performance of the audit or review of our financial statements and are not reported above under "Audit Fees." The services for the fees disclosed under this category include consultation regarding our correspondence with the SEC and other accounting consulting.
Tax Fees - This category consists of professional services rendered by our independent auditors for tax compliance and tax advice. The services for the fees disclosed under this category include tax return preparation and technical tax advice.
Pre-approval Policy
Our Board of Directors has adopted a procedure for pre-approval of all fees charged by our independent auditors. Under the procedure, the Board approves the engagement letter with respect to audit, tax and review services. Other fees are subject to pre-approval by the Board, or, in the period between meetings, by a designated member of Board. Any such approval by the designated member is disclosed to the entire Board at the next meeting. The audit and tax fees paid to the auditors with respect to 2014 were pre-approved by the entire Board of Directors.
Board of Directors Report
The Board of Directors has reviewed and discussed with the Company's management and independent auditor the audited consolidated financial statements of the Company’s contained in the Company's Annual Report on Form 10-K for the Company's fiscal year ended December 31, 2015. The Board has also discussed with the independent auditor the matters required to be discussed pursuant to SAS No. 61 (Codification of Statements on Auditing Standards, AU Section 380), which includes, among other items, matters related to the conduct of the audit of the Company's consolidated financial statements.
The Board has received and reviewed the written disclosures and the letter from the independent auditor required by the applicable requirements of the Public Company Accounting Oversight Board regarding the independent auditor's communications with the Board concerning independence, and has discussed with its independent auditor its independence from the Company.
The Board has considered whether the provision of services other than audit services is compatible with maintaining auditor independence.
Based on the review and discussions referred to above, the Board approved the inclusion of the audited consolidated financial statements in the Company's Annual Report on Form 10-K for its fiscal year ending December 31, 2015 for filing with the SEC.
PART IV
Item 15.
Item 15. Exhibits, Financial Statement Schedules
(a)(1) List of Financial statements included in Part II hereof
Balance Sheets, December 31, 2015 and 2014
Statements of Operations for the years ended December 31, 2015 and 2014
Statements of Stockholders' Equity (Deficit) for the years ended December 31, 2015 and 2014
Statements of Cash Flows for the years ended December 31, 2015 and 2014
Notes to the Financial Statements
(a)(2) List of Financial Statement schedules included in Part IV hereof: None.
(a)(3) Exhibits
The following exhibits are included herewith:
Exhibit No.
Description
Certification of Chief Executive Officer and Chief Financial Officer Pursuant to Section 302 of the Sarbanes-Oxley Act of 2002
Certification of Chief Executive Officer and Chief Financial Officer Pursuant to Section 906 of the Sarbanes-Oxley Act of 2002
101.INS*
XBRL Instance Document
101.SCH*
XBRL Taxonomy Extension Schema Document
101.CAL*
XBRL Taxonomy Extension Calculation Linkbase Document
101.DEF*
XBRL Taxonomy Extension Definition Linkbase Document
101.LAB*
XBRL Taxonomy Extension Label Linkbase Document
101.PRE*
XBRL Taxonomy Extension Presentation Linkbase Document
*XBRL (Extensible Business Reporting Language) information is furnished and not filed or a part of a registration statement or prospectus for purposes of Sections 11 or 12 of the Securities Act of 1933, as amended, is deemed not filed for purposes of Section 18 of the Securities Exchange Act of 1934, as amended, and otherwise is not subject to liability under these sections.
Following are a list of exhibits which we previously filed in other reports which we filed with the SEC, including the Exhibit No., description of the exhibit and the identity of the Report where the exhibit was filed.
NO.
DESCRIPTION
FILED WITH
DATE FILED
3.1
Articles of Incorporation
Form S-1
September 3, 2009
3.2
Certificate of Amendment
Form S-1
September 3, 2009
3.3
Certificate of Change
Form S-1
September 3, 2009
3.4
Certificate of Amendment
Form 8-K
December 12, 2014
3.5
Bylaws
Form S-1
September 3, 2009
4.1
PMX Stock Awards Plan
Form S-8
November 11, 2013
10.1
Lease-Purchase Option
Form S-1
September 3, 2009
10.2
Revised Assignment and Assumption
Form S-1/A
October 16, 2009
10.3
Agreement with Invisosoft
Form S-1
September 3, 2009
10.4
Business Consultant Agreement
Form S-1
September 3, 2009
10.5
Gervis Agreement
Form S-1/A
October 16, 2009
10.6
Partial Satisfaction of Promissory Notes
Form S-1/A
October 16, 2009
10.7
Mark Goldstein Note Dated 2/13/09
Form S-1/A
October 16, 2009
10.8
Barry Roderman Note Dated 2/13/09
Form S-1/A
October 16, 2009
10.9
Mark Connell Note Dated 2/27/09
Form S-1/A
October 16, 2009
10.10
Andrew Goldstein Note Dated 3/8/09
Form S-1/A
October 16, 2009
10.11
Philip and Cynthia Liberty Note Dated 6/19/09
Form S-1/A
October 16, 2009
10.12
Glenn Murphy Note Dated 6/25/09
Form S-1/A
October 16, 2009
10.13
Financing Agreement Dated 8/18/10
Form 8-K
October 20, 2010
10.14
Agreement Dated 9/2/10
Form 8-K
October 20, 2010
10.15
Agreement Dated 10/5/10
Form 8-K
October 20, 2010
10.16
Transmedia Consulting Agreement
Form 8-K
December 20, 2010
10.17
Tritos Consulting Agreement
Form 8-K
December 20, 2010
10.18
Development Agreement
Form 8-K
August 29, 2011
10.19
Financing Agreement
Form 8-K
August 29, 2011
10.20
Employment Agreement
Form 8-K
August 29, 2011
10.21
2011 Stock Awards Plan
Form 8-K
August 29, 2011
10.22
First Amendment to Executive Employment Agreement
Form 8-K/A
February 15, 2012
10.23
Promissory Note
Form 8-K/A
February 15, 2012
16.1
Auditor's Letter
Form 8-K/A
February 22, 2013
99.1
Confidentiality Agreement
Form 8-K
May 21, 2012
SIGNATURES
Pursuant to the requirements of Section 13 or 15(d) of the Securities Exchange Act of 1934, the Company has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.
PMX COMMUNITIES, INC.
BY: /s/ Lindsey Perry
Lindsey Perry
Chief Executive Officer, Chief Financial Officer
Dated: April 19, 2016
Pursuant to the requirements of the Securities Exchange Act of 1934, this report has been signed below by the following persons on behalf of the Company and in the capacities and on the dates indicated.
By: /s/ Lindsey Perry
Lindsey Perry
Chief Executive Officer, Chief Financial Officer, Director, Controller
Dated: April 19, 2016