Friday, September 19, 2014 3:21:35 PM
Whatever happened to the claim that Schissler was being reported to FINRA
and the shareholders would be made whole???
In fact I'm still waiting for any proof of that whole spiel
about how there was a "naked short" and some MM was going down etc...
Any word on that???
How about some proof of the statements made about IronRidge???
Or even proof that these statements that Covey filed with the SEC are true???
"Ironridge transaction
On April 21, 2014, the Company and Ironridge Global IV, Ltd. (Ironridge) obtained court approval for a stipulated settlement under which $2,377,000 would be paid using common stock. Ironridge had settled the Company’s debt under the TCA agreement. Under the terms of the settlement, the Company issued 435 million shares of common stock to Ironridge and was obligated to issue additional stock until Ironridge received proceeds from sale of the stock of $2,377,000.
On May 20, 2014, June 11, 2014, and July 28, 2014, the Company issued 250,000,000, 240,000,000, and 195,000,000 shares, respectively, to Ironridge in conjunction with this agreement.
In August 2014, Ironridge and the Company modified the agreement to provide that, if the Company’s stock price exceeds $.01 per share, a set number of shares of common stock, based on the outstanding remaining balance of the obligation, a 7% agent fee, and a percentage of the Company’s stock prices, would settle the obligation."
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