These morons didn't properly edit the text in the form 10 they posted. There are notes to themselves sprinkled in the text, suggestions on how to change the numbers to make them look better.
Consulting and Professional Fees: Consulting and professional fees totaled $663,803 in 2013, compared to none in 2012. Expenses incurred in 2013 when in 2013 - pre – Siegel don’t think we want that in there. included approximately $227,000 of stock issued for services (do we say who it was) and significant expenses for accounting, auditing and legal services related to unwinding the unperfected merger with Emax and Affiliates, filing reports with OTC Markets, and the preparation and filing of this registration statement with the SEC. again a red flag for shareholders here. Can we add clarity – who got these shares.
Sooo funny. What frauds. These are just the notes they forgot to delete - I wonder what else they said in the notes they did delete!
Other than that, just more of the same death spiral financing.
Hurry and read it before they upload the sanitized version
During the three months ended March 31, 2014, the Company received net proceeds of $145,412 for the sale of 43,028,846 shares of common stock.
During the three months ended March 31, 2014, the Company issued 2,000,000 shares of common stock as consideration for services rendered. The Company recorded compensation expense equal to the grant date fair value of the shares, estimated based on the grant date quoted trading prices of the Company’s common stock, totaling $24,000 for the three months ended March 31, 2014.
During the three months ended March 31, 2014, the Company issued 7,500,000 shares with a grant-date fair value of $30,000 in settlement of $30,000 owed to a former officer of New Beginnings.
During the three months ended March 31, 2014, the Company issued 103,217,017 shares of common stock previously reflected as issuable at December 31, 2013.
Note 8. Subsequent Events
Issuance of Common Stock
In April and May 2014, the Company sold 58,636,364 shares of common stock for aggregate proceeds of $110,000.
In April 2014, the holder of the convertible notes converted an aggregate face amount of $75,000 and accrued interest of $7,500 into 87,554,921 shares of common stock.
In April 2014, the Company issued 8,000,000 shares in settlement of disputes with its former chief financial officer.
In July 2014, the Company issued 61,936,936 share of common stock upon the conversion of convertible debt and accrued interest totaling $27,500.
In July 2014, the Company issued 20,000,000 shares of common stock granted to employees in 2013.
In July 2014, the Company issued 10,000,000 shares of common stock to consultants for services rendered, valued at $15,000 based on quoted trading prices.
In July 2014, the Company sold 525,000,000 shares of common stock for cash of $450,000, of which $400,000 was received. The investor has the right to purchase additional shares at the same price per share in order to maintain 28% ownership in the Company as stipulated in the securities purchase agreement.
In July 2014, the Company issued 28,000,000 shares of common stock that were reflected as issuable as of December 31, 2013.
Issuance of Convertible Debt
In May 2014, the Company issued convertible debt with an aggregate face value of $95,000 for gross proceeds of $95,000. The notes mature in one year, bear interest at an annual rate of 8% and are convertible into common stock at a conversion rate equal to a range of 30% to 40% of the average of the five lowest closing prices during the 20 days preceding conversion.
Jordan Belfort in "Wolf of Wall Street": "Rich people don't buy penny stocks. They're too smart."
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