DASWANI PAYS JUST 16.5K FOR 35 MILLION SHARES
THEN TURNS AROUND FOUR MONTHS LATER AND ISSUES 1.3 MILLION SHARES FOR $400,000!.
For a company that hasn't earned a dime, I'll give credit to Daswani. IT LOOKS LIKE HE KNOWS HOW TO EARN A DIME WHEN ONE HASN'T ACTUALLY BEEN EARNED.
Item 5.01 Changes in Control of Registrant
On December 9, 2009, Sugarberry Assets Ltd. (“Sugarberry”) acquired control of York
Resources, Inc. (the “Company”), through the purchase of 35,000,000 shares of our common
stock (the “Purchase Shares”) from Kelvin B. Campbell. Sugarberry is the wholly owned holding
company of Ravi K. Daswani, our new Chief Executive Officer and President. See Item 5.02
below.
The shares purchased by Sugarberry represents 61.3% of the issued and outstanding voting shares
of our common stock.
The consideration for the share purchase was $16,500.
The source of funds for the share purchase was working capital provided as a loan to Sugarberry
by Mr. Daswani
THEN HE TURNS AROUND AND ISSUES 1.3 Million Shares for
400k.
In March 26, 2010, we agreed to issue 1,333,333 shares of our common stock, par value $0.001 (the “Shares”), together with
warrants entitling the investor to purchase an additional 666,667 shares of our common stock at an exercise price of $0.40 per share (the
“Warrants”), for an aggregate of $400,000. The Warrants expire on March 31, 2011. Together, the Shares and the Warrants constitute less
than five percent of our issued and outstanding shares
HA! HA! HA!
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