Friday, May 16, 2014 11:27:43 AM
Griffith owns 84.61% of the common stock consisting of 133,828,288 shares and 500,000 preferred shares which vote at 250 to 1. 3,500,000 preferred shares issued and outstanding.
Amerigo/Quest operates out of a building owned by Griffith because they have no cashflow by which to pay his $250,000 salary or rent.
This a interesting: "The Company previously had a consulting agreement with a firm controlled by the Company's Chief Executive Officer for a fee of $3,500 per month. The consulting firm had been engaged to assist in organizing and completing the process of filings with the Securities and Exchange Commission and other tasks. The Company owed the firm $111,368 as of September 30, 2013 and this was settled for 560,000 shares of common stock on December 30, 2013."
So he does deals between his own companies and "settles" the bad debt for additional shares.
And this, "Due to the Company's limited cash position, the CEO has been lending the Company money to operate when funds were needed. As of December 31, 2013 and 2012, a total of $74,442 and $154,732, respectively, was due to the CEO of the Company related to advances and payables.
As of December 31, 2013, the Company’s CEO is owed $45,000 in accrued, but not paid, salary.
The company utilizes office space at an office building the CEO partially owns. During June 2011, the building agreed to waive the rent cost of office space until operations increase. The only costs invoiced to the Company are for reimbursement of direct costs such as shipping, postage, etc."
Looks like more shares coming to Mr. Griffith out of this arrangement also.
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