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Wednesday, October 5, 2022

Axiom Corp (OTCMKTS:AXMM) Falls Some More

Axiom Corp (OTCMKTS:AXMM) is dropping again on accelerating volume as any last bag holders run for the exits, something they probably regret not doing a long time ago.

AXMM saw a fast rise in March to highs of $1.87 before an ugly collapse that resulted in huge losses for anyone that bought in. AXMM is about as ugly as it gets and has done nothing but collapse since 1.87.

On April 28 AXMM announced PaperNuts Corporation has entered into a strategic long-term Supply Agreement with a leading North American provider of sustainable paper and packaging products made from 100% recycled material. The confidential privately-owned Supply Partner operates multiple large scale state-of-the-art paper mills serving customers across North America.

Subject to the terms and conditions of the Supply Agreement, the Supply Partner will be the primary supplier to PaperNuts of lightweight continuous-roll Kraft paper for its on-demand high speed PaperNuts packaging solutions. These products meet the highest environmental standards earning FSC, SFI, and PEFC certifications.

AXMM was the subject of a significant promotion from ‘’investors-edge’’ There was also a landing page at axmminfo.com that contained a 17 page PDF AXMM promotional page from David Moore of Rising Stock Advisor that has since been taken down. The Disclaimer stated ”DM has been compensated $5,000 by a third-party for this Profile Report.”

Axiom Corp (OTCMKTS:AXMM) operates through its majority owned subsidiary, PaperNuts Corporation, a global focused developer and marketer of innovative and environmentally friendly packaging solutions.

Widely used in Europe, Paper Nuts are made from 100% recycled corrugated cartons and paper processing production waste and provide a sustainable alternative to Styrofoam packing material.

Jim Treliving, Bruce Croxon and Arlene Dickinson took Papernuts to DragonsDen last year and were offered 150,000 for 30% of the business by the Dragons. The deal didn’t make it through due diligence however, but not because the Dragons weren’t keen. “We soon realized they probably didn’t want us as much as they did the opportunity to be on air,”

According to axmminfo.com ‘’their idea was simple; cost effectively offer a replacement product for loose-fill packing peanuts. As for the scale of the opportunity, consider this; on December 2, 2013, One Company – the online retailer amazon.com received order for nearly 37 million items. That number is astonishing, but it pales in comparison to UPS’S statistics. That Company delivered 18 million packages every day last year – for a total of 4.6 billion in 2014.’’

On March 24 AXMM announced it has completed agreements for the cancellation of 40,000,000 Common Shares of the Company in exchange for 2,000,000 Series A Preferred Shares and 2,000,000 Series B Preferred Shares.

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The pr goes on to say that As a result of these transactions, there are a total of 66,147,975 Common Shares issued and outstanding, including 39,714,654 restricted Common Shares issued to shareholders of PaperNuts Corporation. In addition, there are 2,000,000 Series A Preferred Shares and 2,000,000 Series B Preferred Shares. All common and preferred shares held by Axiom Corp. and PaperNuts Corporation management, insiders, and control persons are further restricted from trading subsequent to SEC Rule 144.

AXMM CEO Tyler Pearson said ”By expanding the Company’s previously announced common shares reduction plan to 40,000,000 shares, we have decreased the total number of common shares outstanding by almost 40%, while simultaneously strengthening the Company’s share structure with a multiple-voting preferred class.”

There has been significant confusion on this point on IHUB; the 40 million shares are not a buy back. AXMM is simply converting restricted shares into preferred shares.

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Currently trading at a $12 million market valuation AXMM is about the ugliest promo to come around in while. Forget the fundamentals; there are none. What makes AXMM so ugly is the total collapse of share price of over 90% with little chance for anyone that bought in to get out. We will be updating on AXMM as events unfold so make sure you are subscribed to Microcapdaily so you know what is going on with AXMM.

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Disclosure: we hold no position in AXMM either long or short and we have not been compensated for this article.

Ali Raza
A journalist, with experience in web journalism and marketing. Ali holds a master degree in finance and enjoys writing about cryptocurrencies and fintech. Ali’s work has been published on a number of cryptocurrency publications.

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