Tuesday, June 17, 2014 5:23:41 PM
http://www.otcmarkets.com/edgar/GetFilingPdf?FilingID=9570714
Additionally, some shares were issued in 2011 and 2012 for which there may need to be a clawback.
I have only verified one of the transactions from that time period, a sale of 1,000,000 shares for $30,000.00, to be legitimate and acceptable. However, Wen Peng did not file a Form D for the sale of those shares and because of this an offer to repurchase those 1,000,000 shares was made (by me, on behalf of ADIA) after I became CEO again in July.
That investor declined the buyback offer and is happy to keep the shares they purchased, so now a Form D needs to be filed to notify the SEC of the sale. Because the investor resides in California, a fee must be paid to the State of California in connection with that unregistered securities sale.
If the 1,500,000 shares issued to Rob Shively (now deceased) are formally acknowledged by his family (his estate) to satisfy all debt owed by the company to them then those shares will not be clawed back, which leaves 13,000,000 still left to be recovered from the shares improperly-issued in 2013 plus whatever number might be subject to clawback from 2011-2012 (yet to be determined).
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