I 'think' I see the light here...
From the latest Q filing:
Number of shares of outstanding Class A, Common Stock, No par value, outstanding as of February 13, 2008: 196,150,944
For the six months ended December 31, 2007:
The Company issued 4,738,148 shares of its Class A Common Stock valued at $38,457, as compensation to Meritz & Muenz LLP for repayment of legal services valued at $38,379,which was provided during the year ended June 30, 2006, pursuant to the terms of the MM2 Plan. A beneficial interest expense of $78 was charged to operations
The Company issued 1,000,000 shares of its Class A Common Stock valued at $25,000, as compensation to officers of Genotec Nutritionals for fiscal year-end bonuses pursuant to the provisions of the Genotec Plan.
The Company issued 42,685,673 shares of its Class A Common Stock to YA Global Investments (f/k/a. Cornell Capital Partners) ("YA Global") for conversion of $87,950 of Secured Convertible Debentures issued on April 7, 2005 and subsequently amended on July 20, 2006.
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So:
196,150,944 + 1,000,000 + 42,685,673 = 244,574,765
O/S as of today is Outstanding: 246,771,717
This calculation is pretty close. Let's hope this is what is happening and it's not the company selling, but the company covering their debt.
Let's also keep up with the T/A numbers, it's as easy as sending an e-mail and requesting it. jocelyn@fidelitytransfer.com
