John Michael Johnson - Nov 12, 2021 Form 4 Insider Report for NEXT-ChemX Corporation. (CHMX)

Role
PRESIDENT, Director
Signature
/s/ John Michael Johnson
Stock symbol
CHMX
Transactions as of
Nov 12, 2021
Transactions value $
$56,000
Form type
4
Date filed
7/22/2022, 01:59 PM
Next filing
Jul 13, 2022

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction CHMX COMMON STOCK Other $0 +1.31M $0.00 1.31M Apr 27, 2021 See footnote F1
transaction CHMX COMMON STOCK see note Options Exercise $41.3K +41.3K $1.00* 41.3K Jun 17, 2022 Direct F2

Derivative Securities (e.g., puts, calls, warrants, options, convertible securities)

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Underlying Class Amount Exercise Price Ownership Footnotes
transaction CHMX CONVERTIBLE PROMISSORY NOTE see note Conversion of derivative security $15K +15K $1.00* 15K Nov 12, 2021 SHARES OF COMMON STOCK 15K $1.00 Direct F3
transaction CHMX CONVERTIBLE PROMISSORY NOTE see note Award $41K +41K $1.00* 41K May 9, 2022 SHARES OF COMMON STOCK 41K $1.00 Direct F4
transaction CHMX CONVERTIBLE PROMISSORY NOTE see note Conversion of derivative security -$41.3K -41.3K -100% $1.00* 0 Jun 17, 2022 SHARES OF COMMON STOCK 41.3K $1.00 Direct F5
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id Content
F1 The indirect beneficial ownership (founder shares) reflects an ownership interest of 5.5% of the share capital of a Texas corporation that is the controlling shareholder of NEXT-ChemX Corporation ("CHMX"), Nevada, the reporting issuer. The Texas controlling shareholder owns a total of 23,844,448 shares in the reporting issuer. The reporting person is also an Officer and Director of the Texas registered controlling shareholder.
F2 Issued to the reporting person upon the conversion of a $41,000 convertible promissory note granted to the Reporting Person by the Issuer for a portion of unpaid salary. Both the principal amount of $41,000 and accumulated interest of $256 was converted into shares of Common Stock at a conversion price of $1.00 resulting in the issuance of 41,256 shares of common stock
F3 During a restructuring of certain debt owed to the reporting person, the reporting person was granted a $15,000 convertible promissory note on November 12, 2021 (due November 11, 2022). This Convertible Promissory Note pays 8% interest at the one-year term or on the earlier repayment. Both the principal and interest are convertible into shares of common stock of the reporting issuer at the election of the reporting person either (i) at term or at the earlier conversion of debt and interest into shares of common stock.
F4 The issuance of this convertible promissory note was previously unreported; it was issued on April 9th, 2022, in forgiveness of certain unpaid salary.
F5 The reporting person chose to convert principal of this convertible promissory together with the interest due on the date of the exercise of the conversion resulting in the cancellation of the note against issuance of 41,256 shares of common stock.