Clarification on share count from Xun forum today.
Thanks to 4on4off for the Forum question and to the CEO for the response.
Question #1: Are you able to clarify if any of the 876,405,000 shares issued are related to the recent 3(a)(10) stock for debt transaction that are to be issued in tranches to ECVI?
Response #1: The stock you refer to being issued of 876,405,000 shares is incorrect. As of February 2, 2015, the Company has issued and outstanding 8,092,658,163 common stock, which you will be able to verify in the November 30, 2014 10Q when filed later this month. Pacific Stock Transfer Company (PSTC) is in the process of correcting their files as they acquired Holladay Stock Transfer (HST) and the records transferred did not properly comply with PSTC policies of recording stock issued compared to how HST reported common stock issued.
The Company issued 891,045,000 common shares subsequent to November 30, 2014 which includes the following:
The Company issued 791,000,000 shares on December 17, 2014 pursuant to the Superior Court of Connecticut, Judicial District of Danbury Order for Approval of Stipulation for Settlement of Claims dated November 17, 2014. The issuance of the common stock was exempt from registration under Section 3(a)(10) of the Securities Act.
The Company requested to have the Safety Net Price in the stipulation to protect the shareholders from undue pressure and to prevent shorting of stock. Based on the latest shareholder report, the 791,000,000 shares issued to ECVI has not been deposited with the brokerage firm and remains in street name.
My posts are not meant as investment advice. Always check company filings and do you own Due Diligence
