Monday, October 15, 2012 11:12:23 AM
***and 5K Preferred shares - looks like the structure is getting cleaned back up in a hurry.
Note: 90,000,000 common shares are to be returned due to the settlement agreement with Compass Entertainment. An additional 161,000,000 common shares were issued in anticipation of the completion of asset acquisitions and were in the hands of John Stanton, the shares are to be returned and a demand has been sent for their return as no consideration was paid for them and cannot be because of the Stanton bankruptcy. 5,000 preferred series a stock were demanded returned as well as they were issued for the conversion of debt that is no longer viable and is discussed in the Other Information section in this document. All are still listed here as outstanding because they have yet to be returned. None of these shares will be honored without a court order and no court action is anticipated by any holder of these shares. All shares have been removed from the monetary values in the financial statements.
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