Artec Global Media Inc. (ACTL)

[KOmani]

Looks like the A/S has been raised from 75 Million to 750 Million and Preferred Share Class has been created.

Sept 21 (14C):
http://www.otcmarkets.com/edgar/GetFilingHtml?FilingID=10919986

Also note the Latest Financials:

Sept 14 (10Q)
http://www.otcmarkets.com/edgar/GetFilingHtml?FilingID=10909424

Results of Operations:

We are a start-up company. We did not begin meaningful operations until our first quarter of 2014. As of July 31, 2015, we had total assets of $9,967 and total liabilities of $230,604. Since our Inception to July 31, 2015, we have accumulated a deficit of $1,717,185. We anticipate that we will continue to incur losses for the foreseeable future. Our financial statements have been prepared assuming that we will continue as a going concern. We expect we will require additional capital to meet our long term operating requirements. We expect to raise additional capital through, among other things, the sale of equity or debt securities.

NOTE 3 – Convertible Promissory Notes

LG Capital Funding Convertible Notes
Note 1: $55,125
Note 2: $55,125

JMJ Financial Convertible Note
Note 1: $35,000
Note 2: $25,000

Adar Bays Convertible Note
Note 1: $52,500
Note 2: $50,000

Vista Capital Investments Convertible Note
Note 1: $38,889

Typenex Financing (Convertible Note)
Note 1: $125,000
Also, they issued warrants to Typenex.

Vis Vires Group, Inc. Convertible Note
$69,000

It doesn't look that great.

Not sure if Convertible Note holders will attempt something.

I mean, there are 6 of them ....

From the financials, it looks like the company may have tried to sell restricted stock to individuals to raise funds.

However, it seems that the promotions didn't work.

Company has little in terms of assets and plenty of Convertible Notes.

The raise in the A/S tells me that it may spiral now. It looks like there was only 10,255,625 Shares issued prior.

I guess given what was written/suggested in the past about the CEO, this should be a shock.

At this point, I believe it's more of a question of whether the noteholders will organize a promo so they can get out.