When the last Q was filed in June, there were 600,000,000 shares outstanding.
While we do not know how many more shares were issued after that date as the transfer agent was gagged, lets assume another 300,000,000 pre split shares were issued.
Thus, after the split there are some 3,000,000 shares outstanding, excluding Scamblis' 240,000,000 convertible preferred.
Today, assuming Slimey Steve did not convert any of his preferred, over 30% of the outstanding shares was either legitimately bought and sold or exchanged among the various market makers hoping they are not the last one holding the bag.
What is the value of this company
net worth -0-
intellectual property -0-
understated value of real property owned -0-
cash on hand <15,000
Lets say, that the company has 3,000,000 in revenues - not profits - revenues and the valuation of this type of company is worth seven times revenue - that would equal 21,000,000 - assuming the preferred is converted there would be 2,403,000,000 shares outstanding - or an implied value of less than one cent
He can pump all he wants but this is a scam and always will be a scam of a company with one director, a CEO who through his reverses and issuance of preferred stock increased his ownership of this purported company from 37% to 99% and pretends he is concerned about the common stockholder.
There are two people Sir Steve is concerned about 1) His toxic financier and 2) Himself
I do not recommend you buy or sell any stock - do your own due diligence and have a nice weekend.
