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Cherubim Interests Inc. (CHIT)

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Last Post: 5/26/2017 12:23:24 PM - Followers: 169 - Board type: Free - Posts Today: 0

 
Todor Pichurov
Cherubim Interests Inc (OTCMKTS:CHIT) Floored Back to $0.0001
by Todor Pichurov January 6, 2016

There really is precious little to be surprised about here, considering the hole that CHIT dug itself in over 2015. The first and most important factor here is dilution. Back in late July 2015 the company had 58.6 million outstanding common shares. By Aug 31 that number was up at 125 million.

In mid-October the company upped its authorized shares to a mind-boggling 5 BILLION. A little scary given the company had just 0.1 billion OS not two months ago, isn't it? It actually is, especially considering what CHIT did by the end of calendar 2015.

A Schedule 13-G published on Dec 30 reveals that a certain DTS Partners LLC holds a massive 200,000,000 CHIT common shares. Those 200 million comprise 6.1% of the company's outstanding stock, according to the filing. This would peg CHIT's outstanding common shares as of the end of 2015 at somewhere around 3,000,000,000 or 3 BILLION.

Going from 58 million to 3 billion over the span of five months and diluting your retail shareholders some 5000% could be enough of a feat to scare most anyone away from the stock.

The fact that CHIT's latest balance sheet is deplorable does not help either. Here is what the company reported in its annual for the year ended Aug 2015:

$16 thousand in cash
$19 thousand in total company assets
ZERO in annual revenues
$915 thousand in annual net loss

The summation of the above should shed some light on why CHIT remained locked in sub-pennies for months on end and eventually slid to rock bottom at $0.0001.

http://www.hotstocked.com/article/92438/cherubim-interests-inc-otcmkts-chit-floored-back.html
 



CHERUBIM INTERESTS (OTC:CHIT) SHARE STRUCTURE

Transfer Agent
Pacific Stock Transfer / Tel: (702) 361-3033 / Toll-Free: (800) 785-PSTC
http://www.pacificstocktransfer.com/contact/

 
Authorized Shares 5,000,000,000 a/o Oct 12, 2016
Outstanding Shares 222,229,000 a/o Sep 28, 2016
Outstanding Shares 235,036,550 a/o Oct 25, 2016
Outstanding Shares 246,209,186 a/o Nov 08, 2016
Outstanding Shares 287,165,765 a/o Nov 22, 2016
Outstanding Shares 381,721,575 a/o Dec 06, 2016
Outstanding Shares 620,885,153 a/o Jan 26, 2017
Outstanding Shares 661,289,193 a/o Jan 30, 2017
Outstanding Shares 692,861,137 a/o Feb 16, 2017
     
     
 

30,000  to  1   REVERSE SPLIT APPROVED

http://www.sec.gov/Archives/edgar/data/1421865/000107878216002300/f8k020916_8k.htm

On February 9, 2016, holders of a majority of the voting rights of the Company approved a 30,000 to 1 reverse split of the Company’s Common Stock (“Reverse Split”), meaning that each 30,000 shares of Common Stock will be consolidated into 1 share of Common Stock following the reverse split, provided however, that fractional shares would be rounded up to the nearest whole share. Notice of the action taken by holders of a majority of the voting rights of the Company was provided to non-consenting shareholders in accordance with Nevada law.

SIGNATURES

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.

CHERUBIM INTERESTS, INC.

Date:  February 9, 2016

By:  /s/ Patrick Johnson                  
Patrick Johnson
Chief Executive Officer


http://www.sec.gov/Archives/edgar/data/1421865/000107878216002300/f8k020916_8k.htm
 


http://www.sec.gov/Archives/edgar/data/1421865/000107878215002035/f10k083115_10k.htm

On October 14, 2015, the Board of Directors of Cherubim Interests, Inc. (the “Company”) approved the amendment and restatement of the Company’s Articles of Incorporation attached hereto as Exhibit 3(i) (the “Restatement”). The purpose of the Restatement was to:

i. Increase the number of authorized shares of Common Stock to 5,000,000,000;

ii. Increase the number of authorized shares of Preferred Stock to 50,000,000;

iii. Set the par value of the Common and Preferred Stock to $0.00001;


iv. Authorize the Board of Directors to issue “blank check” Preferred Stock and fix the rights, preferences, privileges, qualifications, limitations, and restrictions of any Preferred Stock issued by the Company, including the number of shares constituting any series or the designation of such series.

http://www.sec.gov/Archives/edgar/data/1421865/000107878215002035/f10k083115_10k.htm
 




Cherubim Interests, Inc. (USOTC:CHIT)  Historical Stock Chart  1 Year : From Oct 2014 to Oct 2015

 




By consent action of the Board of Directors dated April 27, 2015, par value was decreased from $.001 to $.0001

http://ih.advfn.com/p.php?pid=nmona&article=69043717&symbol=CHIT
 




As of November 30, 2015 there were 2,632,502,507 shares of common stock, par value $0.00001, outstanding.

http://ih.advfn.com/p.php?pid=nmona&article=70068923
 




CHERUBIM INTERESTS INC.

ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934

For the fiscal year ended August 31, 2015

Dated:  December 15, 2015

http://www.sec.gov/Archives/edgar/data/1421865/000107878215002035/f10k083115_10k.htm

RISK FACTORS

THERE IS SUBSTANTIAL UNCERTAINTY AS TO WHETHER WE WILL CONTINUE OPERATIONS.

If we discontinue operations, you could lose your investment. Our auditors have discussed their uncertainty regarding our business operations in their audit report dated August 31, 2015. This means that there is substantial doubt that we can continue as an ongoing business for the next 12 months. The financial statements do not include any adjustments that might result from the uncertainty about our ability to continue in business. As such, we may have to cease operations and you could lose your entire investment.

WE LACK AN OPERATING HISTORY

There is no assurance that our future operations will result in continued profitable revenues. If we cannot generate sufficient revenues to operate profitably, our business will fail. We have very little operating history upon which an evaluation of our future success. We cannot guarantee that we will be successful in generating revenues in the future. Failure to generate revenues will cause us to go out of business.

http://www.sec.gov/Archives/edgar/data/1421865/000107878215002035/f10k083115_10k.htm

GOING CONCERN

The audited financial statements for the years ended August 31, 2015 and 2014 have been prepared on a going concern basis, which implies that our company will continue to realize its assets and discharge its liabilities and commitments in the normal course of business. Our company has generated $0 in revenues since inception and has never paid any dividends and is unlikely to pay dividends or generate substantial earnings in the immediate or foreseeable future. The continuation of our company as a going concern is dependent upon the continued financial support from our shareholders, the ability of our company to obtain necessary equity financing to achieve our operating objectives, and the attainment of profitable operations. As at August 31, 2015, our company has accumulated losses of $(4,215,721) since inception. As we do not have sufficient funds for our planned operations, we will be required to raise additional funds for operations.

Due to the uncertainty of our ability to meet our current operating expenses and the capital expenses noted above, in their report on the annual financial statements for the year ended August 31, 2015 our independent auditors included an explanatory paragraph regarding concerns about our ability to continue as a going concern. Our financial statements contain additional note disclosures describing the circumstances that lead to this disclosure by our independent auditors.

The continuation of our business is dependent upon us raising additional financial support. The issuance of additional equity securities by us could result in a significant dilution in the equity interests of our current stockholders. Obtaining commercial loans, assuming those loans would be available, will increase our liabilities and future cash commitments.

http://www.sec.gov/Archives/edgar/data/1421865/000107878215002035/f10k083115_10k.htm
 

Pursuant to an Agreement and Plan of Reorganization dated April 27, 2015, the Company agreed to acquire all of the membership interests of Cherubim Interests, LLC, a limited liability company, from Victura Construction Group, Inc. (“Victura”). Victura is an affiliate of Patrick Johnson, a director and President of the Company, and is a non-reporting public company trading under the symbol VICT. The acquisition closed on April 27, 2015. Pursuant to the acquisition, the Company has (a) effected a 1-for-15 reverse stock split, such that the 83,626,881 outstanding shares of common stock will be reclassified as 5,575,125 shares of new common stock; (b) issued 60 million shares of new common stock to Victura in the exchange; (b) amended the Articles of Incorporation to change the name of the Company to "Cherubim Interests, Inc.,"  and (c) accepted the resignation of director and officer Terry Lynch and the appointment of new directors to serve with Patrick Johnson. As a result, there are approximately 65,575,125 outstanding shares of Common Stock, plus some number of additional shares (estimated not to exceed 1,000) to be issued for rounding of the reverse stock split.
See,
http://www.sec.gov/Archives/edgar/data/1421865/000107878215000653/f8k042915_8k.htm


As of August 31, 2015, there were 125,025,261 shares of common stock issued, par value $0.001, outstanding.
See,
http://ih.advfn.com/p.php?pid=nmona&article=70068224


On October 14, 2015, the Board of Directors of Cherubim Interests, Inc. (the “Company”) approved the amendment and restatement of the Company’s Articles of Incorporation attached hereto as Exhibit 3(i) (the “Restatement”). The purpose of the Restatement was to:  i.  Increase the number of authorized shares of Common Stock to 5,000,000,000;  ii.  Increase the number of authorized shares of Preferred Stock to 50,000,000;  iii.  Set the par value of the Common and Preferred Stock to $0.00001;
See,
http://www.sec.gov/Archives/edgar/data/1421865/000107878215001644/f8k101515_8k.htm


As of November 30, 2015, there were 2,632,502,507 shares of common stock, par value $0.00001, outstanding.
See,
http://ih.advfn.com/p.php?pid=nmona&article=70068923


As of December 22, 2015, there were 3,098,260,027 shares of common stock outstanding. 2,208,488,355 Restricted.
See,
http://investorshub.advfn.com/boards/read_msg.aspx?message_id=119368753


As of December 30, 2015, there were 3,298,260,027 shares of common stock outstanding. 2,208,488,355 Restricted.
See,
http://investorshub.advfn.com/boards/read_msg.aspx?message_id=119511521


As of January 19, 2016, there were 3,672,260,027 shares of common stock outstanding. 2,208,488,355 Restricted.
See,
http://investorshub.advfn.com/boards/read_msg.aspx?message_id=119931987
 


Balance Sheets from Form 10-K
For the fiscal year ended August 31, 2015
http://www.sec.gov/Archives/edgar/data/1421865/000107878215002035/f10k083115_10k.htm
 

 

Balance Sheets from Form 10-K
For the fiscal year ended August 31, 2014
http://www.sec.gov/Archives/edgar/data/1421865/000107878214002324/f10k083114_10k.htm
 

 



Statement of Beneficial Ownership (sc 13d)
http://ih.advfn.com/p.php?pid=nmona&article=69849681

 
Date : 12/30/2015 @ 1:19PM
Source : Edgar (US Regulatory)
Stock : Cherubim Interests, Inc. (PC) (CHIT)


NAME OF REPORTING PERSONS
DTS Partners, LLC

SOLE VOTING POWER
200,000,000 shares of common stock

SOLE DISPOSITIVE POWER
200,000,000 shares of common stock

AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
200,000,000 shares of common stock

http://ih.advfn.com/p.php?pid=nmona&article=69849681


 


 

Statement of Ownership (sc 13g)
http://ih.advfn.com/p.php?pid=nmona&article=69839860

 

Date : 12/29/2015 @ 5:18PM
Source : Edgar (US Regulatory)
Stock : Cherubim Interests, Inc. (PC) (CHIT)


NAME OF REPORTING PERSONS
Blackbridge Capital, LLC

SOLE VOTING POWER
220,000,000

SOLE DISPOSITIVE POWER
220,000,000

AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
220,000,000

http://ih.advfn.com/p.php?pid=nmona&article=69839860
 




 

Securities & Exchange Commission Filings (EDGAR)
http://yahoo.brand.edgar-online.com/default.aspx?cik=1421865
or
http://www.sec.gov/cgi-bin/browse-edgar?action=getcompany&CIK=0001421865&type=&dateb=&owner=include&count=40

 
 

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CHIT
Current Price
Volume:
Bid Ask Day's Range
CHIT News: Quarterly Report (10-q) 05/18/2017 01:00:39 PM
CHIT News: Quarterly Report (10-q) 05/16/2017 04:05:50 PM
CHIT News: Proxy Statement - Other Information (preliminary) (pre 14c) 05/15/2017 10:47:58 AM
CHIT News: Current Report Filing (8-k) 05/15/2017 06:04:56 AM
CHIT News: Amended Annual Report (10-k/a) 05/03/2017 06:04:15 AM
PostSubject
#14553  Sticky Note SHARE STRUCTURE CONFIRMED-**351M FLOAT;;;692M O/S...TA UNGAGGED BottomzUpp 02/21/17 04:00:48 PM
#14361  Sticky Note BEWARE OF HUGE MASSIVE SIGNIFICANT DILUTION HERE !!!!! AdrianZadonis 02/02/17 08:20:38 AM
#10630  Sticky Note Pump & Dump Superstar Attorney, Jehu Hand, Indicted AdrianZadonis 02/15/16 07:38:47 PM
#15694   I don't think there is anything wrong with rmuncast 05/26/17 12:23:24 PM
#15693   Is this legal? Someone should report to SEC. watching007 05/26/17 12:21:35 PM
#15692   Forgot to add. Did anybody who reads rmuncast 05/26/17 10:02:59 AM
#15691   Does anybody question the dumps the last 2 rmuncast 05/26/17 10:00:38 AM
#15690   Nope Its called game over Serge521 05/26/17 09:37:50 AM
#15689   Starting out the day with a dump is Mondragon 05/26/17 09:37:01 AM
#15688   Yet another REVERSE SPLIT coming to this $CHIT AdrianZadonis 05/26/17 08:14:50 AM
#15687   Massive insane dilution Sorry baggies Serge521 05/25/17 06:32:10 PM
#15684   Massive dilution Y'all doomed Serge521 05/25/17 09:53:11 AM
#15683   Never. malc stone 05/24/17 07:09:27 PM
#15682   Lol. When will they learn. watching007 05/24/17 04:30:36 PM
#15681   Tomorrow -no bid day Dead money til r/s Glty Serge521 05/24/17 04:02:41 PM
#15680   Payday at the ole chit factory bignastydude 05/24/17 10:17:10 AM
#15679   Pro thieves are running this scam I told everyone Serge521 05/24/17 10:11:31 AM
#15678   Massive dumping Omg! Serge521 05/24/17 10:07:57 AM
#15676   Go Go CHIT. Take em straight to malc stone 05/24/17 10:05:59 AM
#15675   The numbers don't lie. He didn't raise Mondragon 05/23/17 03:11:23 PM
#15671   Significant (& massive) dilution occurring with this $CHIT AdrianZadonis 05/23/17 01:39:52 PM
#15670   Saweet. Blow the AS out again and malc stone 05/22/17 05:20:57 PM
#15669   A/S raised to 15 BILLION Mondragon 05/22/17 01:18:03 PM
#15668   DALLAS, TX -- (Marketwired) -- 05/18/17 -- Cherubim pistol2 05/22/17 10:08:02 AM
#15667   got some 2s pistol2 05/22/17 09:36:07 AM
#15666   is not RammageRaul 05/21/17 02:44:19 PM
#15665   $0 Cash - Uh, for the period ending Mondragon 05/20/17 01:09:02 PM
#15664   Wow, what a downward spiral this has taken. 10daytradehailchaser 05/20/17 11:08:40 AM
#15663   What is a reverse split...is it good for braybear 05/19/17 10:18:44 PM
#15662   Pink current and they have $800,000 cash. lvhd 05/19/17 09:58:41 PM
#15661   Ok. Now we are current again! Maybe rmuncast 05/19/17 06:21:20 PM
#15660   CHIT Pink Current https://www.otcmarkets.com/stock/CHIT/filings Ace508 05/19/17 05:35:22 PM
#15659   333 Tim696969 05/19/17 05:18:24 PM
#15658   U have proof? dantheman1973 05/19/17 04:48:25 PM
#15657   LOL lvhd 05/19/17 03:22:58 PM
#15656   R/s should be announced next wk Serge521 05/19/17 03:12:03 PM
#15655   More bid slapping on the way Serge521 05/19/17 02:35:11 PM
#15654   True! lvhd 05/19/17 02:00:24 PM
#15653   That is pretty good for an OTC stock. OTC Knight 05/19/17 01:59:19 PM
#15652   Nope. lvhd 05/19/17 01:49:34 PM
#15651   No bid soon Lmao Serge521 05/19/17 01:47:18 PM
#15650   Added more 2s. Go CHIT. OTC Knight 05/19/17 01:38:01 PM
#15649   Serge is just bitter because probably lost a rmill839 05/19/17 01:25:40 PM
#15648   Nope. This CHIT is a fraud. malc stone 05/19/17 12:25:46 PM
#15647   0.0003 almost gone! lvhd 05/19/17 12:10:56 PM
#15646   No bid is coming Y'all doomed w CHIT Serge521 05/19/17 12:05:04 PM
#15645   Why you hate CHIT? LOL lvhd 05/19/17 11:58:45 AM
#15643   Ur wrong watch this tanking soon Y'all doomed Serge521 05/19/17 11:27:29 AM
#15642   CHIT will run soon. Sorry! lvhd 05/19/17 11:18:04 AM
#15641   They are bk Pump n dump short lived No bid soon Serge521 05/19/17 11:08:15 AM
#15640   lookin up today / run coming soon usgirls 05/19/17 09:58:05 AM
#15639   CHIT !! Can we get a mod to WEEDWACKO 05/19/17 09:43:45 AM
#15638   Completely false on paper stock assessment! dantheman1973 05/19/17 03:57:05 AM
PostSubject