Massive Interactive Inc. (fka HUGE)

[Planopenny]

let me see if i got this right: they gave a bunch of shares to insiders, sold the properties to a company leasing their office(themselves) and are doing a RS... junk

[SeaOhToo]

And we understand where the 558,396,564 shares came from.

1.2 billion share/votes. "pursuant to which the 558,396,564 outstanding shares"

(iii) An amendment to Xtreme’s Articles of Incorporation to: (a) effect a reverse stock split of the Company's Common Stock, par value $0.001 per share (“Common Stock”) pursuant to which the 558,396,564 outstanding shares (on an as converted basis) of the Company's Common Stock, par value $0.001, will be subject to a reverse split on a One for One Hundred (1:100) basis (the “Reverse Split”).


"In the second quarter of 2013, we agreed to issue 3,572,000 shares of our preferred stock to six related and unrelated parties in exchange for full mutual releases and extinguishment of $3,572,000 in liabilities owed to these individuals. The shares of preferred stock convert into common stock at $0.01 per share (subject to any stock split the Company’s Board of Directors approves) and have a par value of $0.001. The Company may seek to increase its authorized capital to effect the transaction."

[absintheminded90210]

So now we understand it! 188,996,564 shares outstanding!

[SeaOhToo]

Yup, converted preferred at .01, not at .28 as reported here for months.

"In the second quarter of 2013, we agreed to issue 3,572,000 shares of our preferred stock to six related and unrelated parties in exchange for full mutual releases and extinguishment of $3,572,000 in liabilities owed to these individuals. The shares of preferred stock convert into common stock at $0.01 per share (subject to any stock split the Company’s Board of Directors approves) and have a par value of $0.001. The Company may seek to increase its authorized capital to effect the transaction."

[absintheminded90210]

That's soooooo very close. Let me help. There are 3,694,400 preferred shares.

Next, when they convert to common how many would there be? (Hint multiply by 100)

[SeaOhToo]

Here is an answer for you....
Pay attention to the last line.

"In the second quarter of 2013, we agreed to issue 3,572,000 shares of our preferred stock to six related and unrelated parties in exchange for full mutual releases and extinguishment of $3,572,000 in liabilities owed to these individuals. The shares of preferred stock convert into common stock at $0.01 per share (subject to any stock split the Company’s Board of Directors approves) and have a par value of $0.001. The Company may seek to increase its authorized capital to effect the transaction."

[absintheminded90210]

Have you been to smokey hills lately or you have friends there?

[SeaOhToo]

Last I heard the $10 million dollar SWD well is sitting idle waiting a trucking company to bring it some water. Wait I think they sold off the SWD well.

So now we get royalties on non-income, non producing dormant wells.

[absintheminded90210]

So you know the current status of the wells?

[SeaOhToo]

"Too soon to speculate on that."

Now think about that comment. Isn't that what we are doing when we consider buying into this SCAM.

Reality is a company (Torch) with $1.6 million in cash, currently lossing money will never come up with $11 million in cash.

Agreed, time to move on. 1.2 billion nails in this coffin.

[absintheminded90210]

Slow down tiger. Too soon to speculate on that.

Real DD could easily tell us how many series a preferred shares. Lets work on that.

[SeaOhToo]

Again not sure. I do know those shares represent MORE THAN 1.2 BILLION VOTES!

Do you think XTOG will receive anywhere close to $11 million in cash from Torch?

[absintheminded90210]

I meant from my question of outstanding shares to my next question regarding preferred shares. I'm trying to use the Socratic method in teaching.

How many series a preferred shares are there?

[SeaOhToo]

You were the one that said "Let's move on"

I'm ready to discuss the Torch deal.....
$11 million that was touted here? We were told Torch was going to give XTOG $11 million in cash....

LMAO, real DD says its NOT going to happen.

It's been reported here, Torch only has $1.6mm and they are still losing money.

[SeaOhToo]

Not really sure as they add them as needed! How many different classes of shares does a company going under need. Preferred convertibles, preferred non transferable( yet have superior voting rights)

Who would invest in a company with this control. Management has wiped out and sold the assets. There is nothing here. Some believe $11 million in cash will just show up in the bank account. ROFLMAO.

You are correct, time to move on. Management has. But, before they did they wiped out shareholders.
Saw this one coming months ago.

[absintheminded90210]

Lets move on. How many preferred shares are there?

[SeaOhToo]

It's ok I understand you are not a lawyer and are having difficulty understanding.

It's called an amendment to effect a change! "pursuant to which the 558,396,564 outstanding shares"

(iii) An amendment to Xtreme’s Articles of Incorporation to: (a) effect a reverse stock split of the Company's Common Stock, par value $0.001 per share (“Common Stock”) pursuant to which the 558,396,564 outstanding shares (on an as converted basis) of the Company's Common Stock, par value $0.001, will be subject to a reverse split on a One for One Hundred (1:100) basis (the “Reverse Split”).

[absintheminded90210]

Hint. Currently authorized 200,000,000. So it must be a number below that.

[absintheminded90210]

Incorrect answer

[SeaOhToo]

So where does 62 million shares come from? Didn't read that in any recent filings. Or the preferred conversion at .28 or the prediction of .28 in September.

I predict .17 post R/S, at best.

[SeaOhToo]

The wheels are in motion. 1.2 billion share/votes. "pursuant to which the 558,396,564 outstanding shares"

(iii) An amendment to Xtreme’s Articles of Incorporation to: (a) effect a reverse stock split of the Company's Common Stock, par value $0.001 per share (“Common Stock”) pursuant to which the 558,396,564 outstanding shares (on an as converted basis) of the Company's Common Stock, par value $0.001, will be subject to a reverse split on a One for One Hundred (1:100) basis (the “Reverse Split”).

[absintheminded90210]

How many shares outstanding right now?

[SeaOhToo]

Got it, 5,583,966 million shares after reverse split.

Which means 558 million shares prior to reverse 100 to 1.

So where does 62 million shares come from? Didn't read that in any recent filings. Or the preferred conversion at .28 or the prediction of .28 in September. This must be the false information you speak of.

[absintheminded90210]

No one is debating. One keeps posting false information.

And for what the future holds its 5 mil OS. NOT 500mil. It will NEVER be 500mil. Most understand why.

[SeaOhToo]

More conversions coming! This is directly from the latest NR;

"In addition, Xtreme has converted over $1.2 Million of debt into equity in its efforts to continue to eliminate debt from its balance sheet. We anticipate the remaining debt will be converted into equity during the next several weeks."


"In addition, Xtreme has converted over $1.2 Million of debt into equity in its efforts to continue to eliminate debt from its balance sheet. We anticipate the remaining debt will be converted into equity during the next several weeks."


"In addition, Xtreme has converted over $1.2 Million of debt into equity in its efforts to continue to eliminate debt from its balance sheet. We anticipate the remaining debt will be converted into equity during the next several weeks."


"In addition, Xtreme has converted over $1.2 Million of debt into equity in its efforts to continue to eliminate debt from its balance sheet. We anticipate the remaining debt will be converted into equity during the next several weeks."

"In addition, Xtreme has converted over $1.2 Million of debt into equity in its efforts to continue to eliminate debt from its balance sheet. We anticipate the remaining debt will be converted into equity during the next several weeks."

"In addition, Xtreme has converted over $1.2 Million of debt into equity in its efforts to continue to eliminate debt from its balance sheet. We anticipate the remaining debt will be converted into equity during the next several weeks."

[SeaOhToo]

We all know 62 million in NOT correct. Further research shows millions of common shares were issued for the convertable debt at .01. Remember when we were told it was .28, then converted a massive amount of shares at .01.

"In addition, Xtreme has converted over $1.2 Million of debt into equity in its efforts to continue to eliminate debt from its balance sheet. We anticipate the remaining debt will be converted into equity during the next several weeks."

[SeaOhToo]

LMAO, debating 188 million, 586 million or 1.2 billion shares, oh yeah 62 million, too.

The stock is .007-.008.

Yes we live in the present. Knowing the future will tell you where the SP is headed. 558,396,564 shares!


(iii) An amendment to Xtreme’s Articles of Incorporation to: (a) effect a reverse stock split of the Company's Common Stock, par value $0.001 per share (“Common Stock”) pursuant to which the 558,396,564 outstanding shares (on an as converted basis) of the Company's Common Stock, par value $0.001, will be subject to a reverse split on a One for One Hundred (1:100) basis (the “Reverse Split”).


(iii) An amendment to Xtreme’s Articles of Incorporation to: (a) effect a reverse stock split of the Company's Common Stock, par value $0.001 per share (“Common Stock”) pursuant to which the 558,396,564 outstanding shares (on an as converted basis) of the Company's Common Stock, par value $0.001, will be subject to a reverse split on a One for One Hundred (1:100) basis (the “Reverse Split”).


(iii) An amendment to Xtreme’s Articles of Incorporation to: (a) effect a reverse stock split of the Company's Common Stock, par value $0.001 per share (“Common Stock”) pursuant to which the 558,396,564 outstanding shares (on an as converted basis) of the Company's Common Stock, par value $0.001, will be subject to a reverse split on a One for One Hundred (1:100) basis (the “Reverse Split”).


(iii) An amendment to Xtreme’s Articles of Incorporation to: (a) effect a reverse stock split of the Company's Common Stock, par value $0.001 per share (“Common Stock”) pursuant to which the 558,396,564 outstanding shares (on an as converted basis) of the Company's Common Stock, par value $0.001, will be subject to a reverse split on a One for One Hundred (1:100) basis (the “Reverse Split”).

[J.T. The DD King]

62 million is correct.Your information has been proven wrong beyond any doubt, with references for anyone & everyone to verify.

It's all in the filings people. Everything I posted previously is copied directly from XTOG's last filing which is available for your review here on IHub.

IMO, One of the great things IHub has to offer is very easy access to all SEC filings. I've found IHub to be one of the best, fastest & easiest places to access SEC filings & highly recommend everyone take advantage of their service as not to fall victim to lies or misinformation.

[absintheminded90210]

Thanks for posting this JT

[absintheminded90210]

It is factually incorrect state the share count is 500 mil. There are currently 188,996,564 shares outstanding. There are preferred shares that will convert in the future. But we live in the present. So as of this weekend there are 188,996,564 shares outstanding. SIMPLE DD will explain the current share structure and what the future might hold regarding preferred shares.

I'm pretty sure JT just made a similar post. I know everyone here appreciated it. Let me reiterate what he said.

There are 188,996,564 shares outstanding!

There are 188,996,564 shares outstanding!

There are 188,996,564 shares outstanding!

There are 188,996,564 shares outstanding!

[SeaOhToo]

It was reported 62 million, that is incorrect. The share count is well over 500 million. Headed to 1.2 billion.

Real DD has supported those FACTS.

[absintheminded90210]

if someone finds the voting shares funny well im happy for them. i find it insignificant.

the number i find important is 1.89 mil

i dont care about the 3.whatever mil held by insiders

[SeaOhToo]

Yup, because 1.2 BILLION VOTES!

LMAO, 558 million shares. Saw this one coming months ago, while other said 62 million and Preferred would be converted at .28, not at .01.

[absintheminded90210]

im glad you finally got it, i see you changed your phrasing to "and why they will have 558,000,000 shares"

[SeaOhToo]

So you understand why the stock is at .007. More preferred share conversions and why they will have 558,000,000 shares.

(iii) An amendment to Xtreme’s Articles of Incorporation to: (a) effect a reverse stock split of the Company's Common Stock, par value $0.001 per share (“Common Stock”) pursuant to which the 558,396,564 outstanding shares (on an as converted basis) of the Company's Common Stock, par value $0.001, will be subject to a reverse split on a One for One Hundred (1:100) basis (the “Reverse Split”).

[absintheminded90210]

exactly, i think we get it now! so that's why RSI 30 wrote

"After the reverse split there will be 1.89 million common shares outstanding.

The 5.583 million is the fully diluted shares outstanding. It will only come into play after the insiders who hold the Series A preferred shares choose conversion; which does not have to happen until April 2014 and will not be included in the float as the common shares will be 100% held by insiders."

[SeaOhToo]

And after the amendment is voted on by the 1.2 billion votes....

(iii) An amendment to Xtreme’s Articles of Incorporation to: (a) effect a reverse stock split of the Company's Common Stock, par value $0.001 per share (“Common Stock”) pursuant to which the 558,396,564 outstanding shares (on an as converted basis) of the Company's Common Stock, par value $0.001, will be subject to a reverse split on a One for One Hundred (1:100) basis (the “Reverse Split”).

[absintheminded90210]

on an as converted basis

The Company currently has authorized (i) Common Stock of 200,000,000 shares and approximately 188,996,564 shares of Common Stock are issued and outstanding as of the Record Date, and (ii) blank check preferred stock of 50,000,000 shares, of which 3,694,400 shares have been issued.


so you take the 188,996,564 shares of common and then convert the preferred 3,694,400 shares (3,694,400x100=369,440,000)

then add the two together 369440000+188,996,564=558,436,564 on an as converted basis

[SeaOhToo]

Oh I see you mistake...

It's an amendment vote on by 1.2 billion votes!

So it is 558,396,564 outstanding shares.

(iii) An amendment to Xtreme’s Articles of Incorporation to: (a) effect a reverse stock split of the Company's Common Stock, par value $0.001 per share (“Common Stock”) pursuant to which the 558,396,564 outstanding shares (on an as converted basis) of the Company's Common Stock, par value $0.001, will be subject to a reverse split on a One for One Hundred (1:100) basis (the “Reverse Split”).

[absintheminded90210]

the part that is in red, look at the parentheses just after it- "(on an as converted basis)"

that must be what's confusing.

further down, you can find this-

The Company currently has authorized (i) Common Stock of 200,000,000 shares and approximately 188,996,564 shares of Common Stock are issued and outstanding

perhaps that will make RSI's post easier to understand.

http://investorshub.advfn.com/boards/read_msg.aspx?message_id=90572897

[rooscogburn]

now let me get this sraight 2+2=4 4+5=9 i count the shares and your number is the same as mine,, hmmm and im just a rookie, are you sure yu dont want to repeat that for anyone that mite be confused, this stock is going places dont want anyone left in the dark
xtog

[J.T. The DD King]

July 26, 2013 if one reads the whole filing instead of selective parts the truth reveals:

The Company has three classes of voting stock outstanding: the Common Stock,
the Series A Preferred Stock, and the Nontransferable Preferred Stock.

There are currently 188,996,564 shares of Common Stock outstanding

I REPEAT There are currently 188,996,564 shares of Common Stock outstanding

AND FOR A 3rd time just to make sure you all see & understand
it. There are currently 188,996,564 shares of Common Stock outstanding

and each share of Common Stock is entitled to one vote;
3,694,400 shares of Series A Preferred Stock and each share is entitled to 100 votes; and
1,000 shares of Nontransferable Preferred Stock entitled to votes totaling 110% of the combined voting of the Common Stock and the Series A Preferred Stock.

Accordingly, the total number of votes held by holders of the Company’s voting securities is 1,172,632,784 reflecting 188,996,564 votes of the Common Stock, 369,400,000 votes of the Series A referred Stock, and 110% of the total votes of the Common Stock and Series A Preferred combined or 614,236,220 votes.

The vote or written consent of the shareholders holding at least 586,316,111votes from the Common Stock, Series A Preferred Stock, and the Nontransferable Preferred Stock issued and outstanding is necessary to approve the sale of the West Thrifty/Quita leases, ratify the sale of interests in our Oklahoma and Kansas properties, and approve the Reverse Split. In accordance with Nevada law, July 2, 2013 is the record date for determining the shareholders entitled to vote or give written consent.

[SeaOhToo]

As of July 26, 2013.

INFORMATION STATEMENT

OF

XTREME OIL & GAS, INC.

5700 West Plano Parkway

Suite 3600

Plano, Texas

[phone]

July 26, 2013

Dear Stockholder:
We are writing to advise you that our Board of Directors and shareholders holding a majority of our outstanding voting capital stock have authorized the following actions:

(i) The sale of the Company’s Texas oil and gas leases, our West Thrifty/Quita properties;

(ii) Ratification of the sale to Torchlight Energy Resources, Inc. of certain of the Company’s Kansas and Oklahoma properties; and

(iii) An amendment to Xtreme’s Articles of Incorporation to: (a) effect a reverse stock split of the Company's Common Stock, par value $0.001 per share (“Common Stock”) pursuant to which the 558,396,564 outstanding shares (on an as converted basis) of the Company's Common Stock, par value $0.001, will be subject to a reverse split on a One for One Hundred (1:100) basis (the “Reverse Split”).

[SeaOhToo]

RSI not sure where s came from....

this is from the filing the company prepared:


INFORMATION STATEMENT

OF

XTREME OIL & GAS, INC.

5700 West Plano Parkway

Suite 3600

Plano, Texas

[phone]



July 3, 2013



Dear Stockholder:



We are writing to advise you that our Board of Directors and shareholders holding a majority of our outstanding voting capital stock have authorized the following actions:

(i) The sale of the Company’s Texas oil and gas leases, our West Thrifty/Quita properties;

(ii) Ratification of the sale to Torchlight Energy Resources, Inc. of certain of the Company’s Kansas and Oklahoma properties; and

(iii) An amendment to Xtreme’s Articles of Incorporation to: (a) effect a reverse stock split of the Company's Common Stock, par value $0.001 per share (“Common Stock”) pursuant to which the 558,396,564 outstanding shares (on an as converted basis) of the Company's Common Stock, par value $0.001, will be subject to a reverse split on a One for One Hundred (1:100) basis (the “Reverse Split”).

These corporate actions were approved by written consent effective July 3, 2013 by our Board of Directors and a majority of holders of our voting capital stock, in accordance with Sections 78.2055, 78.315 and 78.320 of the Nevada Revised Statutes. Our directors and majority of the shareholders of our outstanding capital stock, as of the record date of July 2, 2013, have approved the corporate actions after carefully considering them and concluding that approving the corporate actions were in the best interests of our Company and our shareholders.



WE ARE NOT ASKING YOU FOR A PROXY, AND YOU ARE REQUESTED NOT TO SEND US A PROXY.



No action is required by you. The enclosed Information Statement is being furnished to you to inform you that the foregoing actions have been approved by those having sufficient voting power to approve such actions. No other shareholder consents will be solicited in connection with the transactions described in this Information Statement.



Pursuant to Rule 14c-2 under the Securities Exchange Act of 1934, as amended, the proposals will not be adopted until a date at least 20 days after the date of this Information Statement has been mailed to our shareholders. This Information Statement is being mailed to you on or about July 3, 2013.



Please feel free to call us at [phone] should you have any questions on the enclosed Information Statement



By: /s/ Willard G. McAndrew III

Willard G. McAndrew, III

Chief Executive Officer and President

Plano, Texas

July 3, 2013










--------------------------------------------------------------------------------






XTREME OIL & GAS, INC.

5700 West Plano Parkway

Suite 3600

Plano, Texas

[phone]



INFORMATION STATEMENT

PURSUANT TO SECTION 14(C)

OF THE SECURITIES EXCHNAGE ACT OF 1934

AND RULE 14C-2 THEREUNDER



This Information Statement is being furnished to the holders of record of shares of the Common Stock of Xtreme Oil & Gas, Inc. as of the close of business on the record date, July 2, 2013. The purpose of the Information Statement is to notify the Company’s shareholders that on July 2, 2013, the Company received written consents in lieu of a meeting of shareholders (the “Written Consent”) from the holders of having 969,655,220 of the votes of the total voting of the issued and outstanding voting shares of the Company, representing 83.1% of the total votes of the Company’s voting securities. The Written Consent adopted resolutions that:



(i) Approved sale of the Company’s Texas oil and gas leases, our West Thrifty/Quita properties;



(ii) Ratified the sale to Torchlight Energy Resources, Inc. of certain of the Company’s Kansas and Oklahoma properties; and



(iii) Amended Xtreme’s Articles of Incorporation to: (a) effect a reverse stock split of the Company's Common Stock, par value $0.001 per share (“Common Stock”) pursuant to which the 558,396,564 outstanding shares (on an as converted basis) of the Company's Common Stock, par value $0.001, will be subject to a reverse split on a One for One Hundred (1:100) basis (the “Reverse Split”).

[absintheminded90210]

Nice to see some movement here today.

[absintheminded90210]

Thanks for posting that.

[RSI 30]

XTOG traded debt for equity in form of Series A preferred and common shares which eliminated over 4 million in liabilities. The 3.694 million in series A preferred are 100% owned by insiders and do not have to convert until April 2014.

At present there is 188,996,564 shares of common stock & 3,694,400 series A preferred.

The Series A preferred shares will convert at 1:1

After the reverse split there will be 1.89 million common shares outstanding.

The 5.583 million is the fully diluted shares outstanding. It will only come into play after the insiders who hold the Series A preferred shares choose conversion; which does not have to happen until April 2014 and will not be included in the float as the common shares will be 100% held by insiders.

There is nothing to support 1.2 billion that was only the number of voting rights.

[SeaOhToo]

Yet I posted facts directly from the company filing supporting my finding. Well over 500 million shares headed to 1.2 billion through preferred convertible shares.

No support on 62 million at all

[SeaOhToo]

558,396,564 shares. Wow, DD directly from company filings.....

558,396,564!


(a) effect a reverse stock split of the Company's Common Stock, par value $0.001 per share (“Common Stock”) pursuant to which the 558,396,564 outstanding shares

and we still have convertible shares not exercised!

[J.T. The DD King]

That's funny. VOTING RIGHTS ARE NOT TRADING SHARES.