SK3 Group Inc. (SKTO)

[LoanStew]

This might be worthwhile for people to read...found it in a place I hang out from time to time.

According to latest filing (2014 Q1), the certificates for the 20 million SKTO shares have not been issued yet to BBio. Share certificates are the rule for consummation of acquisitions.

"On June 30, 2013, SK3 Group closed an acquisition agreement to acquire 100% of the outstanding shares of BBORL, INC (Berkeley Bio-Organic Research Laboratories), a California Corporation from its four shareholders for 20 million shares of SK3 Group, common stock (5 million shares to each shareholder). The share certificates have not yet been issued, but the shares are included in the issued and outstanding shares at December 31, 2013 and March 31, 2014."

The same story applies to the acquired CA collective, the four extraction machines, and iequity corp preferred shares (60% control). In the case of the preferred, they have yet to file a new Certificate of Designations with Delaware.

Guess what, folks...
SKTO doesn't own BBORL, Inc. yet.
SKTO doesn't own the extraction machines...the acquired CA Collective, and iEquity doesn't have control of anything.
SKTO is a shell that has been paying people with shares, surviving on the "forward looking" statements in press releases.
Other than Hoye putting himself in hot water by allowing himself to be added to the board of SKTO, BBio is on its own.
And SKTO owes iEquity 50,000 dollars every month. Because technically they don't own SKTO.

And as the SEC sorts this out, they will begin by bringing charges, IMO, against the people who created the press releases, who approved the press releases, and who got on conference calls referring people to those press releases...and, of course, the tie that binds at the Hipple.

You own a dirty shell. With nothing of its own.
Sorry about that.
IMO/FWIW