Validian Corp fka VLDI

[Surwin]

Like I said he basically maintains his original investment percentage throughout the years with slight variation up and down between 8.4% and 9.9 % by increases most likely from debt conversions to keep ahead of the annual dilution. The following is the actual note from his 13G filing to support this:

Mr. Frenkel and his affiliates own common shares and derivative convertible preferred stock of the Issuer. The derivative convertible preferred stock if fully exercised exceed the number of common shares reported on this Schedule.

BTW how could he see a demo in November 2015 and buy 9 M share in December 2015 when the Gantlet deal was only completed with integration in December 2016? Nice trick, like I have said pay no attention to the man behind the curtain. Below are all Leonid holdings by the latest information or 10K filings. This supports that Leonid usually exercises his conversion feature only to maintain his equity position and since 2016 had a major dilution from all the refinancing he had to step up the conversions. he has always maintain between 9-9.9% equity in outstanding common shares for the most part.

As of 4/07/17 he had 9.9% or 44.4 M or an increase of 4.9M shares

As of 4/07/16 he had 9.7% or 39.5M or an increase of 9.5M shares

As of 3/31/15 he had 9.1 % or 30.0M or an increase of 7.5M shares

As of 3/31/14 he had 9.0% or 22.5M or an increase of 5.2M shares

As of 4/09/13 he had 9.0% or 17.3M or an increase of 4.5M shares

As of 3/31/12 he had 8.4% or 12.8M or an increase of 2.0M shares

As of 3/31/11 he had 9.6% or 10.8M or an increase of .8M shares

As of 3?31/10 he had 9.4% or 10.0M or an increase of 2.6M shares

As of 3/26/09 he had 8.9% or 7.4M or an increase of 2.5M shares

As of 3/31/08 he had 9.0% or 4.9M shares


And these are the real facts and not another spin story from Bruce!