FBEC Worldwide Inc (FBEC)

[Jon Bovi]

FBEC so you're saying the current CEO made the below stated deal with FBEC without knowing the state of the company or what was going on? So you're saying he was naive and uneducated on what good business practices were?

"
On June 17, 2015 the Company entered into a Consulting Agreement and Engagement Letter with Midam Ventures, LLC for purposes of providing business advisory services for creating market awareness of the Company’s products within the guidelines and regulations of OTC Markets and the Securities and Exchange Commission. Midam Ventures LLC will be working with the Company’s Investor Relations consultant, John Mattio, President of Lamina International. The term of the agreement is for ten (10) months. In addition to and not in mitigation of, or substitution for, any additional fees enumerated in any services provided, the Company shall issue to Midam Venture LLC consideration of Ten Million (10,000,000) restricted common shares as consideration for the term of this Engagement. The restricted common shares will be issued in 10 equal monthly installments commencing on the date of this agreement and each thirty (30) days thereafter. There is a 6 month maturity restriction at the time the shares are issued, and the current market value of the 10,000,000 restricted common shares is approximately $600,000. Please refer to Exhibit 10.1."


You're also that when the current CEO took THIS assignment he was also naive an unaware of the practices of the company?

"In connection with the Board Meeting on July 30, 2015 of FBEC Worldwide Inc., a Wyoming Corporation, the Company decided that in the best interest of growing its new product line, Wolf Shot Energy Drink, that Jason Spatafora was appointed as the Chief Marketing Officer (“CMO”) and as a member of the Board of Directors of FBEC Worldwide Inc. for a term of one year, under an Employment Agreement. Mr. Spatafora will receive an annual salary of One Hundred Eighty Thousand Dollars ($180,000) to be paid in monthly increments of $15,000. Mr. Spatafora will receive a signing bonus of Ten Million (10,000,000) shares of restricted common stock of FBEC. Refer to Exhibit 10.1."


At what point in your opinion was the current CEO "Aware" of what the company was or was not doing?