Terra Inventions Corp. (fka TERX)

[rbtree]

Ouch, from the recent 8-k, it appears they issued close to 20 million shares to creditors at .006

http://www.otcmarkets.com/edgar/GetFilingHtml?FilingID=9050394

The following table sets forth the sales of unregistered securities since the Company’s last report filed under this item.


Date Title and Amount (1) Purchaser Principal Underwriter Total Offering Price/Underwriting Discounts
January 31, 2013 3,750,000 shares of common stock issued in conversion of $22,500 principal amount of debt. Starglow Assets Inc. NA $0.006 per share/NA
January 31, 2013 3,750,000 shares of common stock issued in conversion of $22,500 principal amount of debt. Windsor Capital Inc. NA $0.006 per share/NA
January 31, 2013 3,750,000 shares of common stock issued in conversion of $22,500 principal amount of debt. Platinum Capital Holdings Corp NA $0.006 per share/NA
January 31, 2013 3,750,000 shares of common stock issued in conversion of $22,500 principal amount of debt. Wazalmin Capital Corp NA $0.006 per share/NA
January 31, 2013 1,850,000 shares of common stock issued in conversion of $11,100 principal amount of debt. ALG Financial LLC NA $0.006 per share/NA
January 31, 2013 1,850,000 shares of common stock issued in conversion of $11,100 principal amount of debt. Kisumu S.A. NA $0.006 per share/NA

And, from the 10-Q (which shows $44 cash on hand)

http://www.otcmarkets.com/edgar/GetFilingHtml?FilingID=8973978

Internal Revenue Service (“IRS”) served the Company with a tax lien dated March 3, 2010 in the total amount of $251,928. Third quarter 2009 taxes are approximately $117,000, which are included in total due. The Company has been served with an additional tax lien dated January 19, 2011, in the amount of $2,925. The Company had a payment plan in place with IRS; however, the Company is arrears in payments as of July 31, 2012. Management is working with the local IRS office to try and revise the payment agreement. The balance due on the most recent statement from the IRS is $566,071.