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The 10 Million Share Preferred is the Controlling Block of the company to prevent a hostile takeover
This section maintained by pitts77h
A 10 MILLION share Preferred has been issued. Terms of the preferred have never been disclosed.
They were issued BEFORE the company's recent bankruptcy, proving the "hostile takeover" explanation to be false. There are no filings explaining the preferred, or detailing what consideration was paid for the preferred.
Post bankruptcy, this company claims to have merged with "Chill Texas."
The terms of this "merger" have never been provided, the names of the benificiaries have never been made public, and any dilution from the "merger" is unknown.