Embarr Downs, Inc. (EMBR)

[surfkast]

WHERE ARE THE HORSES? WHERE IS THE FISH POOP? SCAM!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!

SELL. SELL. SELL!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!


Note 4 – Equity



Shares issued for services




During the nine months ended May 31, 2014, the Company issued 45,000,000 shares of common stock to employees and third party consultants as compensation. The fair value of the shares was determined to be $945,000.




Shares issued for settlement of debt and accrued interest



During the nine months ended May 31, 2014, the company issued 1,500,000 shares of common stock to third party for the total value of $450,000. The company settled $282,000 of the line of credit outstanding as well as $1,243 of accrued interest with the third party. In addition to the settlement, the company received $166,757 in cash.




Shares issued for cash



During the nine months ended May 31, 2014, the company issued 1,500,000 shares of common stock to a third party for the proceeds of $450,000. As of May 31, 2014, the company has received $16,213 of the $450,000 with the remaining $433,787 outstanding as a stock subscription.