BlockQuarry Corp (BLQC)

[Carini]

No they were informed just 2 short years ago...

HOUSTON, TX / ACCESSWIRE / May 14, 2015 / Top Shelf Brands Holdings, Inc., a Nevada Corporation (DKTS), is pleased to announce the company has accepted an offer from International Spirit and Beverage Group, Inc. (ISBG), to purchase a 75% stake in the Dziaq and Besado Tequila brands in exchange for shares of ISBG common stock and assumption of certain DKTS debt notes.

Top Shelf Brands Holdings, Inc., has agreed to distribute the shares of ISBG to the DKTS common shareholders of record as of 5:00 p.m., Eastern Daylight time on May 26, 2015, the record date for the distribution. The DKTS shareholders will receive one (1) share of International Spirit and Beverage Group, Inc., common stock for every fifteen (15) shares of Top Shelf Brands Holdings, Inc., held on the record date. A registration statement for the distribution of the International Spirit and Beverage Group shares shall be filed with the Securities and Exchange Commission within 30 days of the record date.

That "assumption of certain DKTS debt notes" seems to be the source of the current dilution, assuming those are the $760k in defaulted notes listed in the last financials.

Still waiting on that registration statement though.

The audit coming this week as promised will explain everything IMO.