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Tuesday, September 18, 2012 5:52:58 PM
DOMK Annual Report:
As of fiscal year end May 31, 2012, the Company had one employee (R. Brentwood Strasler - sole Director, President and Corporate Secretary).
Subsequent events:
Effective June 15, 2012, the Company's Shareholders appointed Andrew Ritchie, as CEO of the Company.
On June 25, 2012, the Company appointed Patrick Johnson as Vice President of corporate development.
* R. Brentwood Strasler, our President, did not file a Form 3 within the prescribed time period after his appointment as President. Mr. Strasler was unaware of this requirement.
* Andrew Ritchie, our CEO, did not file a Form 3 within the prescribed time period after his appointment as CEO.
On May 25, 2012, Michael Franklin sold 50,000 preferred shares of the Company, in a private transaction, to Cristy Management Limited. As a result, Cristy Management Limited has become the controlling shareholder of Domark by virtue of his ownership of 50,000 shares of Preferred Stock with voting rights equivalent to 50,000,000 shares of our Common Stock. The address for Cristy Management Limited is Akara Bldg, 24 De Castro Street, Wickhams Cay 1, Tortola, British Virgin Islands.
As of September 12, 2011 [2012??] , there were 29,005,298 shares of Common Stock, $0.001 par value per share, issued and outstanding and there were 50,000 shares of Preferred Stock, $0.001 par value per share, issued and outstanding. There were approximately 87 shareholders of record of the Company's common stock.
The Company had $32,253 in revenues for the fiscal year ended May 31, 2012 related to the sale of Solacases - the cost of sales was $54,763 - Note: the above revenues translates into 537 units sold at $59.99 each. With headlines exclaiming "billions" of iphones, you would hope that sales would have been a wee bit more robust!?
The operating loss for fiscal 2012 increased to $4,718,987 (primarily attributable to G&A!).
On April 1, 2012, the Company entered into a Consulting Agreement with Robert Hines [former President of SEC suspended EVSO] for six months. As consideration for services related to compliance matters, the Company agreed to issue 25,000 shares of its common stock. The shares were valued at market value as of the date of the Agreement, resulting in the Company recording an expense in the amount of $38,250.
On April 1, 2012, the Company entered into a Consulting Agreement with Thomas Massey [former President of SEC suspended GSLO] for six months. As consideration for development of the wholesale and distribution market of the Company's solar products, the Company agreed to issue 25,000 shares of its common stock. The shares were valued at market value as of the date of the Agreement, resulting in the Company recording an expense in the amount of $38,250.
On April 1, 2012, the Company entered into a Consulting Agreement with David Parisi [Parisi's office the same as Kathleen Delaney, former President of SEC suspended EHSI] for six months. As consideration for accounting, bookkeeping, and financial recordation services, the Company agreed to issue 25,000 shares of its common stock. The shares were valued at market value as of the date of the Agreement, resulting in the Company recording an expense in the amount of $38,250.
On April 1, 2012, the Company entered into a Consulting Agreement with Brian Barrilleaux for six months. As consideration for marketing services, the Company agreed to issue 25,000 shares of its common stock. The shares were valued at market value as of the date of the Agreement, resulting in the Company recording an expense in the amount of $38,250. Note: Brian is in the process of starting up a solar company with Kellie Moss - daughter of Eddie Austin Jr. (famous for a number of SEC suspended gems including SSLR and other ventures with his lawyer partner Kathleen Delaney): http://www.nasdaq.com/markets/ipos/filing.ashx?filingid=8168662
On May 9, 2012, the Company entered into a Consulting Agreement with Thomas Massey [ref. his SEC suspended company above] for one year. As consideration for services related to structuring the Company's operational plan and business model, the Company agrees to issue 100,000 shares of common stock on the effective date of the agreement and 150,000 shares if the Company enters negotiations with any merger or acquisition target introduced by the efforts of the Consultant. The initial 100,000 shares were valued at market value as of the date of the Agreement, resulting in the Company recording an expense in the amount of $275,000. On May 24, 2012, Mr. Massey was awarded the additional 150,000 shares, valued at $229,500.
The company entered a number of other transactions with others for "consulting" fees - too numerous to mention here (go to Note 6, page 24-25): http://www.otcmarkets.com/edgar/GetFilingHtml?FilingID=8821967
As a result of the consolidated debt, the Company is now obligated under a single Promissory Note dated February 29, 2012 in the aggregate principle amount of $355,645 along with $2,689 in accrued interest. The Note is due on October 15, 2012 and accrues interest at 3% per annum. In addition, R Thomas Kidd executed a Personal Guarantee of the Note, whereby Kidd guarantees the payment of $250,000 of the principle balance in an Event of Default pursuant to Article III of the Note.
On March 2, 2012, the Company entered into a Master Credit Agreement with Infinite Funding, Inc. [run by Andrew Farmer, long time associate of Kathleen Delaney and Eddie Austin] which provides for a non-revolving line of credit. The Company may request advances under the lending facility by issuing borrowing certificates to the Lender. Each borrowing certificate, together with simple interest accrued at 8% per year, becomes payable one year after the date of the advance received. Infinite Funding has amended the Master Credit Agreement, increasing the amount of the Lending Faciltiy from $150,000 to $200,000. As of May 31, 2012, the Company received $190,000 in advances and the Company has accrued $1,375 in interest.
Andrew Farmer was also involved briefly with James Kesaris, Maurice Stone, Eddie Austin Jr., Richard Bono and others with Lilly Beter's company, Peninsula Holdings (PHGTA, PHGTB, PHGTC) before things fell apart and the ensuing lawsuit against Stone and Austin for allegedly mishandling Ms. Beter's estate affairs: http://minnlawyer.com/wp-files/pdf/opa081257-0526.htm
As of fiscal year end May 31, 2012, the Company had one employee (R. Brentwood Strasler - sole Director, President and Corporate Secretary).
Subsequent events:
Effective June 15, 2012, the Company's Shareholders appointed Andrew Ritchie, as CEO of the Company.
On June 25, 2012, the Company appointed Patrick Johnson as Vice President of corporate development.
* R. Brentwood Strasler, our President, did not file a Form 3 within the prescribed time period after his appointment as President. Mr. Strasler was unaware of this requirement.
* Andrew Ritchie, our CEO, did not file a Form 3 within the prescribed time period after his appointment as CEO.
On May 25, 2012, Michael Franklin sold 50,000 preferred shares of the Company, in a private transaction, to Cristy Management Limited. As a result, Cristy Management Limited has become the controlling shareholder of Domark by virtue of his ownership of 50,000 shares of Preferred Stock with voting rights equivalent to 50,000,000 shares of our Common Stock. The address for Cristy Management Limited is Akara Bldg, 24 De Castro Street, Wickhams Cay 1, Tortola, British Virgin Islands.
As of September 12, 2011 [2012??] , there were 29,005,298 shares of Common Stock, $0.001 par value per share, issued and outstanding and there were 50,000 shares of Preferred Stock, $0.001 par value per share, issued and outstanding. There were approximately 87 shareholders of record of the Company's common stock.
The Company had $32,253 in revenues for the fiscal year ended May 31, 2012 related to the sale of Solacases - the cost of sales was $54,763 - Note: the above revenues translates into 537 units sold at $59.99 each. With headlines exclaiming "billions" of iphones, you would hope that sales would have been a wee bit more robust!?
The operating loss for fiscal 2012 increased to $4,718,987 (primarily attributable to G&A!).
On April 1, 2012, the Company entered into a Consulting Agreement with Robert Hines [former President of SEC suspended EVSO] for six months. As consideration for services related to compliance matters, the Company agreed to issue 25,000 shares of its common stock. The shares were valued at market value as of the date of the Agreement, resulting in the Company recording an expense in the amount of $38,250.
On April 1, 2012, the Company entered into a Consulting Agreement with Thomas Massey [former President of SEC suspended GSLO] for six months. As consideration for development of the wholesale and distribution market of the Company's solar products, the Company agreed to issue 25,000 shares of its common stock. The shares were valued at market value as of the date of the Agreement, resulting in the Company recording an expense in the amount of $38,250.
On April 1, 2012, the Company entered into a Consulting Agreement with David Parisi [Parisi's office the same as Kathleen Delaney, former President of SEC suspended EHSI] for six months. As consideration for accounting, bookkeeping, and financial recordation services, the Company agreed to issue 25,000 shares of its common stock. The shares were valued at market value as of the date of the Agreement, resulting in the Company recording an expense in the amount of $38,250.
On April 1, 2012, the Company entered into a Consulting Agreement with Brian Barrilleaux for six months. As consideration for marketing services, the Company agreed to issue 25,000 shares of its common stock. The shares were valued at market value as of the date of the Agreement, resulting in the Company recording an expense in the amount of $38,250. Note: Brian is in the process of starting up a solar company with Kellie Moss - daughter of Eddie Austin Jr. (famous for a number of SEC suspended gems including SSLR and other ventures with his lawyer partner Kathleen Delaney): http://www.nasdaq.com/markets/ipos/filing.ashx?filingid=8168662
On May 9, 2012, the Company entered into a Consulting Agreement with Thomas Massey [ref. his SEC suspended company above] for one year. As consideration for services related to structuring the Company's operational plan and business model, the Company agrees to issue 100,000 shares of common stock on the effective date of the agreement and 150,000 shares if the Company enters negotiations with any merger or acquisition target introduced by the efforts of the Consultant. The initial 100,000 shares were valued at market value as of the date of the Agreement, resulting in the Company recording an expense in the amount of $275,000. On May 24, 2012, Mr. Massey was awarded the additional 150,000 shares, valued at $229,500.
The company entered a number of other transactions with others for "consulting" fees - too numerous to mention here (go to Note 6, page 24-25): http://www.otcmarkets.com/edgar/GetFilingHtml?FilingID=8821967
As a result of the consolidated debt, the Company is now obligated under a single Promissory Note dated February 29, 2012 in the aggregate principle amount of $355,645 along with $2,689 in accrued interest. The Note is due on October 15, 2012 and accrues interest at 3% per annum. In addition, R Thomas Kidd executed a Personal Guarantee of the Note, whereby Kidd guarantees the payment of $250,000 of the principle balance in an Event of Default pursuant to Article III of the Note.
On March 2, 2012, the Company entered into a Master Credit Agreement with Infinite Funding, Inc. [run by Andrew Farmer, long time associate of Kathleen Delaney and Eddie Austin] which provides for a non-revolving line of credit. The Company may request advances under the lending facility by issuing borrowing certificates to the Lender. Each borrowing certificate, together with simple interest accrued at 8% per year, becomes payable one year after the date of the advance received. Infinite Funding has amended the Master Credit Agreement, increasing the amount of the Lending Faciltiy from $150,000 to $200,000. As of May 31, 2012, the Company received $190,000 in advances and the Company has accrued $1,375 in interest.
Andrew Farmer was also involved briefly with James Kesaris, Maurice Stone, Eddie Austin Jr., Richard Bono and others with Lilly Beter's company, Peninsula Holdings (PHGTA, PHGTB, PHGTC) before things fell apart and the ensuing lawsuit against Stone and Austin for allegedly mishandling Ms. Beter's estate affairs: http://minnlawyer.com/wp-files/pdf/opa081257-0526.htm
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