Rightsmile, Inc. (RIGH)

[Burn Notice88]

Nope, not accurate.

800,000 preferred shares owned by BCAP were converted into 800,000,000 shares increasing the O/S from 2.5B to 3.3B, so in effect Angel did not increase the A/S, (they were increased during BCAP's conversion).

"In October the Company sold its control block of 800,000 shares of Series A Preferred stock in RightSmile, Inc, back to the Company for $200,000. The terms of the transaction state; all payments and interest have been deferred until July of 2012 at which time RightSmile can either pay the Company cash or elect to pay off the Note in equity."

http://www.otcmarkets.com/financialReportViewer?symbol=BCAP&id=63106

Then, "On May 29, 2012 the Company and BCAP agreed to settle obligations entered into by previous RIGH management, related to all remaining outstanding notes payable. The Company agreed to convert certain remaining outstanding notes in the original principal amount of $160,520 and $61,702 accrued and outstanding interest into 750,000,000 restricted common shares of the Company, to be issued upon request from BCAP. As of June 30, 2012 the shares had been requested but not yet issued. This negotiated
settlement converted existing debt above market price at the time of the conversion."

http://www.otcmarkets.com/financialReportViewer?symbol=RIGH&id=91313

In essence, there was no choice in the matter, 1.55B of the O/S increase (from 2.5B to 4.0B+) came from previous RightSmile management, which left virtually zero shares for BG to issue for working capital unless the A/S was increased above 4.0B+.

It's all right here in the reports.

http://www.otcmarkets.com/financialReportViewer?symbol=RIGH&id=81057

http://nvsos.gov/sosentitysearch/corpActions.aspx?lx8nvq=1MFhOt%252bzne3BM%252f3nmJqo5g%253d%253d&CorpName=RIGHTSMILE%2c+INC.

And plenty of proof here BCAP was converting shares during merger talks:
http://investorshub.advfn.com/boards/msgsearchbyboard.aspx?boardID=14521&srchyr=2011&SearchStr=share