I have done some research today! Here are some facts:
1. Sometime in July, August or September 05 a convertible note was obtained in the amount of $2,215,825.00. It does not state if this is a floorless CD or not. No details can be found. Since the CD was obtained our share price has greatly deteriorated and billions of shares have traded.
2. As of September 30, 2005 there was 100,000,000,000 shares authorized with 2,530,142,899 shares issued. Of the issued 1,530,142,699 shares are reported to be float shares.
3. On June 6, 2005 Sandy bought 2 million shares at .0205 per share with an ownership total of 142,000,000 shares
4. On Dec 14, 2005 Sandy bought 10 million shares at .0005 per share with an ownership total of 132,000,000 shares meaning between June 6, 2005 and December 14, 2005 Sandy sold 20 million shares into the market.
5. December 19, 2005 Sandy announced a 2 year company buy back program that can be cancelled at any time to repurchase 1 billion shares on the open market. That would leave only 530,142,699 shares in the float.
6. Company has a loss carry forward of approx, $22 million from previous companies. This proves very beneficial for future revenues.
7. January 17, 2006 Sandy announced 20% ownership in Blackout Communications. Blackout Communications owns TFN.
8. January 25, 2006 Sandy announced 20% ownership in The Wagering Network for and undisclosed amount of cash and shares. The shares are not designated re their class so the assumption has to be made it is common stock as the last reported financial shows only 1 class of share owned by the company.
Currently we have not been able to confirm if the share structure has changed nor if the CD is a floorless note.
Some DD for you.
