Who owned all the Series B preferred shares that ended up getting converted into billions of free trading shares of common stock and diluted into the market here?
The filings never tell you who owned them which is typical of a pink sheet dilution scam like this.
I'm currently on a free account so I'm not able to search old posts on the forum to dig up any past discussions about who was using this ticker as their own person ATM machine through their Series B preferred share ownership.
thanks in advance!
On April 6, 2012, 105,000,000 shares of common stock were issued in connection with converting 5,250 shares of Series B preferred stock. On June 22, 2013, 50,000 shares of Series B preferred stock were returned in connection with converting those shares into 20,000,000 shares of common stock. On November 26, 2013, 5,000 shares of Series B preferred stock were returned in connection with converting those shares into 100,000,000 shares of common stock. On December 5, 2013, 2,500 shares of Series B preferred stock were re turned in connection with converting those shares into 50,000,000 shares of common stock On February 21, 2014, 1,500 shares of Series B preferred stock were returned in connection with converting those shares into 30,000,000 shares of common stock. On March 6, 2014, ,1500 shares of Series B preferred stock were returned in connection with converting those shares into 30,000,000 shares of common stock. On March 18, 2014, 8,450 shares of Series B preferred stock were returned in connection with converting those shares into 169,000,000 shares of common stock. On March 21, 2014, 4,500 shares of Series B preferred stock were returned in connection with converting those shares into 90,000,000 shares of common stock. On March 28, 2014, 4,000 shares of Series B preferred stock were returned in connection with converting those shares into 80,000,000 shares of common stock. On March 31, 2014, 3,000 shares of Series B preferred stock were returned in connection with converting those shares into 60,000,000 shares of common stock. On April 11, 2014, 500 shares of Series B preferred stock were returned in connection with converting those shares into 10,000,000 shares of common stock. On April 25, 2014, 2,800 shares of Series B preferred stock were returned in connection with converting those shares into 56,000,000 shares of common stock. On April 30, 2014, 17,500 shares of Series B preferred stock were returned in connection with converting those shares into 350,000,000 shares of common stock. On May 29, 2014, 20,000 shares of Series B preferred stock were returned in connection with converting those shares into 400,000,000 shares of common stock. On June 10, 2014, 10,000 shares of Series B preferred stock were returned in connection with converting those shares into 200,000,000 shares of common stock. On August 29, 2014 10,000 shares of Series B preferred stock were returned in connection with converting those shares into 200,000,000 shares of common stock. On September 5, 2014 7,500 shares of Series B preferred stock were returned in connection with converting those shares into 150,000,000 shares of common stock. On September 17, 2014 15,000 shares of Series B preferred stock were returned in connection with converting those shares into 300,000,000 shares of common stock.
It looks like a large chunk of them came from an old dividend to the common shareholder, but no doubt those remained restricted and required attorney letters that those common shareholders would have a hard time getting so I'm sure none of those were a part of those large free trading common share issuances above:
On May 17, 2010, the Company issued a stock dividend to all of the Company’s existing common stockholders, in which one (1) common share received 0.05 shares of Series B preferred stock. As a result, a total of 6,679,932 shares of Series B preferred stock was issued.
That means the dumping must have come from the Series B preferred shares issued for this transaction in 2011:
On October 31, 2011, the Company issued 1,500,000 shares of preferred series B stock which may be converted into 30 billion shares of common stock. In exchange for such shares, the Company received a note for $3 million, payable upon the liquidation of $3 million worth of the purchased shares by the purchaser of the shares, which has not occurred yet. If the purchaser is successful in selling $3 million worth of shares purchased in the agreement, but does not remit such proceeds to the Company, the Company may foreclose on the collateral property, which is the land and building located at 787 Chicago Road in Coldwater, Michigan (an Applebee's Restaurant location)
So who got those 1,500,000 shares of preferred series B stock? I'm sure those were the shares used to dilute this ticker to death.
If this ticker ever wakes up again I'm sure they still have a lot more to dump.
AI
