Mr. Patrick Cole reports
OXYGEN FUNDING, INC. COMPLETES RECAPITALIZATION
Oxygen Funding Inc., an affiliated ownership company of Armada Mercantile Ltd.'s Armada Group USA Inc., has completed the
recapitalization of an existing client account for $525,000 of purchased accounts receivables. The client is providing services to companies such as Time Warner Cable, Comcast, Cox and Charter
Communications and is therefore considered high-quality accounts receivables. The client recapitalization was completed with cash
on hand and in the process retired a promissory note for $420,000, which results in Oxygen Funding now debt-free.
Oxygen Funding finances client accounts with capital from various participation financing sources who participate
in the purchase of the accounts receivables. The capital carries interest of: (1) annual percentage rate of 12 per cent; (2) payable monthly; (3)
collateralized by quality receivables; and (4) secured and paid directly to the participation financing sources.
Henceforth, the capital is not dilutive or an obligation to the shareholders of Armada Mercantile.
We seek Safe Harbor.
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