Carnegie Development Inc. (CDJM)

[BigJuan]

$EDWY DEFINITELY LOOKING LIKE R/M CANDIDATE

1) Seems to be their only focus

- Identify and secure a qualified candidate for the position of Chief Executive Officer.

- Identify and review candidate companies for an anticipated reverse merger. The objective will be to merge a high-potential private entity with EDWY to create revenue for the company and to enhance EDWY's value in the marketplace.

2) Much of the debt & Notes cleaned up, written off or rectified

3) Tax loss carry forward of $4,853,931

4) Voting control now in the hands of attorney. Majority "Family Trust" shareholder is working to position the SS for potential R/M.

An EDWY affiliate shareholder has indicated its interest in relinquishing 1 billion common shares for immediate return to the company's treasury. Steps are now being taken to effectuate the decision. Upon completion of this action EDWY's Board of Directors will provide its consent to reduce the company's authorized shares from 2,500,370,900 shares to 1,500,370,900 shares.

On May 25th, 2014 Gary Kimmons, former CEO, irrevocably relinquished all ownership rights, entitlement to and benefit associated with 1,000 shares of Series “A” Preferred EDWY stock. As part of that action Mr. Kimmons returned Certificate No. “010” to the Board of Directors for cancellation and disposal. On May 26th, 2014 in concert with a Written Consent in Lieu of a Special Meeting of a majority of the shareholders the Board of Directors approved a new issuance of 1,000 shares of Series “A” Preferred EDWY stock to Mr. Arne M Ray, Director Tempore. With this move Mr. Ray has the ability to vote a majority of the Company’s common shares.

5) No known outstanding legal issues


6) Sure is looking more and more like a Public Shell Company

OTCQB, OTCQX and OTCBB Shells generally derive from a failed public company business. A company may have traded on the bullet board when operating and subsequently suffered a failure of the operating business leaving behind a shell. When this occurs, these companies may no longer be able to meet the listing requirements of their respective exchanges such as trading price or market capitalization. The Company then “falls off” to the OTCQB, OTCQX or OTCBB over the counter market. When the operating business ceases entirely it leaves behind a shell Company.

The OTCQB, OTCQX and OTCBB Shell Company has no operations and no or nominal assets and liabilities, but the shareholders remain. In the process of an operating business failing and leaving behind a OTCQB, OTCQX or OTCBB Shell, many issues must be addressed in order to ensure that the successor business or merger candidate does not end up assuming the liabilities and responsibilities of the former operating business. In most cases these issues can be rectified. For example, prior liabilities may be written off if the statute of limitations has passed, or the debt may be settled.