Cherubim Interests Inc (CHIT)

[FunkyCoolModena]

Should have paid attention to the disclosures. Maybe you wouldn't have lost your chirt on this CHIT.



From CHIT Quarterly Report 10-Q dated 7/20/15:

The Company had cash of $0; accounts payable and accrued liabilities of $129,708, notes payable totalling $368,837, related party notes totalling $1,324,848, accrued interest of $488,415 and derivative liability of $61,451. We also had interest expense of $40,752 and $106,544 for the three and nine months ended May 31, 2015.

http://www.sec.gov/Archives/edgar/data/1421865/000107878215001127/f10q053115_10q.htm

GOING CONCERN

The continuation of our business is dependent upon us raising additional financial support. The issuance of additional equity securities by us could result in a significant dilution in the equity interests of our current stockholders. Obtaining commercial loans, assuming those loans would be available, will increase our liabilities and future cash commitments.

http://www.sec.gov/Archives/edgar/data/1421865/000107878215001127/f10q053115_10q.htm





5 BILLION A/S

On October 14th the company enacted these changes: Increase the authorized common shares to 5,000,000,000. Increase the number of authorized preferred shares to 50,000,000. They declared a dividend of 1 Series B Preferred share per 100,000 shares of common stock to the owners of record as of the close of business on October 14, 2015.

http://ih.advfn.com/p.php?pid=nmona&article=69020910&symbol=CHIT






Maybe some posters here actually do know a thing or two about this CHIT. Imagine that..


Hope you all know how dilution works and what MASSIVE DILUTION can do to a company's stock price !!!