CSOC~READERS_&_INVESTORS A MUST READ:*Email*~Re: story
Monday, May 22, 2017 12:31 PM Mark as Unread
From:
"info" <info@caduceussoftware.net>
To:
"Stan
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Hi Stanley.
The 4.5Million debt I have bought so it is mine and my wife's. This was
from the license and acquisition agreement with Sygnit Corp back in
2008. I had then acquired the intellectual property as I was the
maintainer and the programmer of Sygnit Code that was then consumed by
CSOC at that time. We book this as additional-paid-in-capital or APIC
for short.
The 450,000,000 stock issuance was to myself in 75,000,000 chunks as a
control block 5X75M plus 50M to Tango Software Corp plus My wife with 50
which is actually 475Million. The reason why it is so large is because
between 2007 to 2015, there was a control block of 56.2M to the first
president, and another 63M or so to Sygnit which was split into Sygnit
directors, totalling 5 people of Sygnit, and then to the ex-president of
10M. I call these legacy management for simplistic terms, which amount
to 56.2+63+10 = 129.2M. At that point in time the float in street form
was 89M.
This totals a total issued and out of 129.2 + 89M = 218M. As of 2010,
there was a debt of approximately But the debt at that time at a par
value strike price 0.001 for $400K. Doing the math a safe control block
was 475M to myself, wife, and erwin.
Now that the debt has been bought by Anna and myself (with our own
personal money), the $400k debt is no longer looming. I will not
disclose the amount paid for the debt, but it was enough to buy a nice
house somewhere!
In consideration of this being on control, and now the certificates of
the Sygnit and ex-presidents certs in control, I am confident that we
have taken a good step forward to making this a clean company that is
now super desirable for a merger.
Please note that I had not discussed the monetary consideration that I
had to do to buy out the old certificates of the ex-presidents, which is
a private transaction and due to the size of their positions at the time
being non-beneficial owner, I am not subject to disclosing this amount.
I hope this clarifies things and that your audience can appreciate the capital expenditure outlay I have done to preserve the company.
When we took over the company, it was about to be delisted. There are many ups
and downs and I think we have now gotten a handle of this.
Thank you.
Richard
