Interesting.
It's not a new issuance. It was a conversion:
Effective December 8, 2015, a change of control occurred with respect to the Company. Pursuant to the transaction, Paragon Capital LP, the former controlling stockholder assigned, transferred and conveyed to the buyers 2,109,286 shares of common stock of Company and convertible notes of the Company totaling $199,500. The convertible notes were convertible into common stock of the Company at $0.01 per share for a total of 19,950,000 shares of common stock. On the closing of the above transaction, Mr. Alan Donenfeld, the then sole officer of Seller, resigned in all officer capacities from the Company and Yik Kei Ong was appointed interim Chief Executive Officer and Chief Financial Officer of the Company. Immediately following the closing of the transaction, the convertible notes ($199,500 in principal amount) were converted into 19,950,000 shares of common stock of the Company. After giving effect to the above described transaction, the controlling shareholders of the Company are Wooi Huat Teow, Chee Chow Teow and Ee Meng Teow.
On March 9, 2016, the Board of Directors appointed Mr. Chee Chau Ng to the Company’s Board of Directors. In addition, on that same date, the Board of Directors appointed Mr. Ng as its President (Chief Executive Officer), Treasurer (Chief Financial Officer) and Secretary, replacing Mr. Yik Kei Ong who had resigned in all capacities as an officer of the Company on that date. As President of the Company, Mr. Ng will assume the role of Chairman of the Company Board of Directors.
On September 19, 2016, three of our shareholders, owning 15,638,084 shares of common stock, or approximately 70% of the total outstanding shares, approved an amendment to our articles of incorporation to change our corporate name from Prevention Insurance.com to AIM BIG Resources, Ltd. (the “Charter Amendment”). On November 18, 2016, we filed a Definitive Information Statement with the Securities and Exchange Commission. We mailed the Definitive Information Statement to our shareholders on November 21, 2016. The Company expects that the Charter Amendment will be filed with the Secretary of State of the State of Nevada in December 2016.
This doesn't raise capital, but it gives these 3 Teow brothers (just a shorthand way of expressing the buyers) all of the company. And that may be the real float as I understand it. They were able to buy at 1 cent, so it's a lot less than I'd be buying. I don't know what their intentions are. They definitely took over and plan to make themselves money. But they can absorb a good reverse split. They may not really care about a reverse split. It would not be good for us though. I just don't know.
These 3 Teow brothers have advanced the company over $100,000 this year just to keep its lights on. I don't think they will be restricted during the real new issuance time. This price is currently a good percentage return for them if they just got it liquid at today's price. I don't know what their goals are. I can see great upside for us where they profit, but I can also see downside for us where they still profit greatly. All of my ventures into shells have been upside for all, or death for all. There are some pathways here that are dark, and I don't know where we are going.
For that reason, I'm going to keep accumulating in our mutual interests. But I want to see how this turns out. I am curious. I don't know where they are going with this. I think it's fully diluted, so that's a good thing.
I'm still not knocking it, Shell. I just see much more potential in our other shells. I have nothing bad to say. I just don't understand it. It may look like I make risky investments, but I really don't. I need to make sure everyone goes down in flames with me if I'm going on a stowaway mission. It's boom or bust for all.
There is no doubt in my mind, however, that you will see an interesting story unfold. They most definitely didn't buy and convert just to stand around and watch paint dry.
