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Friday, May 27, 2016 6:09:10 AM
FBEC in it's latest 10Q discloses 60k in convertible notes added during the quarter. But comparing the 10K, proxy, and 10Q, there are 10times that amount taken out during the quarter despite PR's claiming to have retired notes and retired shares
Dec 31 : 951k convertible notes outstanding
Jan 29 proxy 1.2 mm convertible notes outstanding
Mar 31 10Q : 1.636 mm convertible notes outstanding
From the same 10Q they disclose two notes added:
In February 2016, the Company entered into a convertible debt agreement with a principal amount of $40,00
In March 2016, the Company entered into a convertible debt agreement with a principal amount of $25,000
No other notes disclosed.
Undisclosed notes being a problem as last month this undisclosed note was "paid off early" $71,000 cash paid in 4 months for a $50,000 note there are $600,000 others similar to this one
https://www.sec.gov/Archives/edgar/data/1311735/000101968716005975/0001019687-16-005975-index.htm
contact the SEC. Addresses are below
mills-apentengm@sec.gov,
Miami <miami@sec.gov>
franke@sec.gov
Maryse Mills-Apenteng, Special Counsel at the SEC who was assigned to FBEC. I don't know if she still is, but her number is (202) 551-3457. And if she does not respond, try Evan S. Jacobson at (202) 551-3428, he too was assigned to this ticker.
1.1 Billion shares at 0.0011 per share????
$1,284,274 divided by 1,148,657,148 shares equals== 0.0011180655622403 per share
How will all those shares convert without a REVERSE SPLIT??/ Good thing a shareholder vote is not required Adam Heimann holding 2/3 of all votes
From the most recent FBEC proxy last month
""FBEC has $1,284,274 of outstanding convertible promissory notes that are convertible into approximately 1,148,657,148 shares of common stock, based on the market price on January 29, 2016.""
http://www.sec.gov/Archives/edgar/data/1311735/000101968716005158/fbec_def14c.htm
c.Voting Securities and Principal Holders Thereof
As of January 29, 2016, there were 261,847,598 outstanding shares of common stock of FBEC, each of which was entitled to one vote for the purpose of approving the Resolution. Also as of January 29, 2016, there were 1,000 outstanding shares of preferred stock, voting 66.7% of the outstanding voting rights, held by Vinyl Groove Productions, Inc. Stockholders of record at the close of business on January 28, 2016 (the date of the stockholders’ written consent) were furnished copies of this Information Statement.
Contact:
mills-apentengm@sec.gov,
Miami <miami@sec.gov>
http://www.sec.gov/Archives/edgar/data/1311735/000101968715003416/fbec_8k-090915.htm
On August 26, 2015, the Company issued an 8% interest bearing Convertible Promissory Note in the principal amount of $30,000 to Asten Wyman International LLC, a California Limited Liability Company("AWI"). The note includes no Original Issuer Discount (OID), and the Company received $30,000. Pursuant to the terms of the convertible promissory note, the 6 month maturity date is February 26, 2016 and the holders have the right to convert any portion of the principal amount thereof at a 50% discount to the lowest intra-day trading price within the ten (10) trading days prior to a Conversion Notice submitted to the Issuer’s Transfer Agent. The note can be prepaid prior to the Maturity Date for the principal and interest amount.
Miami@sec.gov
franke@sec.gov
Maryse Mills-Apenteng, Special Counsel at the SEC who was assigned to FBEC. I don't know if she still is, but her number is (202) 551-3457. And if she does not respond, try Evan S. Jacobson at (202) 551-3428, he too was assigned to this ticker.
http://www.sec.gov/Archives/edgar/data/1311735/000101054915000274/fbec8k091115.htm
On August 7, 2015 Mr. Heimann requested and received from the Copacker 500 samples that were “Not for Resale”, and Mr. Heimann took it upon himself to change the formulation, re-label and ship these products to consumers without the consent of FBEC. Further, Mr. Heimann misrepresented himself to the Company and Linda Strause, Ph.D. stating that he had final product from the Copacker. Dr. Strause expressed her concerns to FBEC in regards to Mr. Heimann and his unprofessional conduct and lack of ethics.
http://www.sec.gov/Archives/edgar/data/1311735/000101968715003432/fbec_8k-091015.htm
Effective at 10 P.M. EDT September 10, 2015 the employment contract for Robert Sand was suspended pending the outcome of a corporate investigation related to his activities as Chief Executive Officer and Chairman of the Board of Directors, for actions detrimental to the corporation, conflicts of interest, breaches of fiduciary responsibility and potential fraud. A corporate investigation of his actions is underway and all legal and equitable actions that can be taken by the corporation for recovery of assets or capital have been approved.
http://www.sec.gov/Archives/edgar/data/1311735/000101968715003444/fbec_8k.htm
The Company has agreed to cease any and all investigation of Mr. Sand, as alluded to in the Form 8-K filed on September 11, 2015, and has agreed to accept his resignation. The Company has agreed that the shares of common stock of the Company that Mr. Sand received pursuant to his employment agreement vested immediately upon him signing his resignation
#1). You have money. Other people want it. All of it!
#2). You want easy money. So does everybody else. They'll get it, too....yours! (and all of it!)
#3). You tell yourself you're smart. You won't lose your money. Fact: Other people are smarter, your money. Fact: Other people are smarter,
#1). You have money. Other people want it. All of it!
#2). You want easy money. So does everybody else. They'll get it, too....yours! (and all of it!)
#3). You tell yourself you're smart. You won't lose your money. Fact: Other people are smarter,
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