FBEC Worldwide Inc (FBEC)

[Jon Bovi]

I dunno, I think Sand has his 150Mil shares to sell, so he has to be dealt with.
150 Mil shares is 3% of the AS so doesn't have to disclose much when selling.

However I don't think he has the vote on the company that controls the board. I'm basing that off the excerpts below from past SEC disclosures.

8-k

"Adam Heimann and Jason Spatafora were nominated to the Board of Directors to fill the vacancies. This action was taken at the consent of 66.67% of the shareholders votes capable of voting on the removal of the members of the board of directors and was then approved by the newly appointed Board of Directors."


Def14/C

"As long as 1 share of Series A Preferred Stock is outstanding the class votes as 66.67% of the outstanding votes available to vote. No common shares were required to vote for the transaction. The Preferred Stock is not required to be converted in order to vote.

The Series A Preferred Shares are owned by Vinyl Groove Productions, Inc. where William Coogan is the beneficial owner."