One item....in fact, the ONLY item from the 10K that matters:
In connection with the 1 for 100 reverse common stock split on May 29, 2015, the conversion rates of the outstanding convertible notes [to Vista Ventures] payable were not modified. As a result, in the event all potentially issuable shares were converted, the holders of the existing notes at March 31, 2015 would be issued 27,458,608 shares of common stock representing approximately 99% of the Company’s total shares outstanding on an if-converted basis.
In other words, because the convertible notes were not modified (ie reduced by a factor of 100), the effects of the 1:100 reverse split resulted in vista Ventures instantly receiving 100 times more value for their convertible notes!!
Vista Ventures is controlled by Thomas Cloud, son of the late penny king scamster JT Cloud. Vista Ventures is administered by Kathleen M. Delaney, also a long time scam queen among many other stinky pinkies.
