Ultrack Systems Inc (MJLB)

[Dina]

If a company needs money to settle debt or for their business, they would deal with private placements, a regular credit or toxic diluters.
But no one gives 5m shares away, which were $1,500,000 worth(when pps was .30) for $5000 debt.
These shares were issued for service/work but not for debt.

The son and the secretary did not lend the company money IMO.
It´s only a way to enrich insiders without any restriction, but never for debt.
The CEO also got another 1m shares(after 33m restricted shares) for $1000 debt because the other shares are restricted and the last 1m not.
Maybe this is the reason why he waits so long until he release news, his 23m shares are restricted until December 2014, if i remember it correct. If the o/s is higher, he can sell more, and this is his plan IMO.

Most otc companies would deal with toxic diluters, not enough
interest from private investors, and then they get 60% of the
lowest closing or bid price, but not shares which are $1,5m worth for $5000 debt. It doesn´t make sense.