Saturday, January 23, 2016 1:11:52 PM
Sohail asked Sohail how much the patents were worth and then Sohail handed Sohail 40,000,000 shares of ESCU. I wonder why it was so important to start up a new company in Spain for the share transfer..? And why is Sohail brokering this deal to himself? Why doesn't Saeed have control of his patents? Has anyone done a pulse check on Saeed lately?
Wind Escue SL was started a couple of months ago. How much did they pay for the patents that ESCU just bought for 40,000,000 shares at a value of $1.00 per share?
Related Party Transactions
On September 1, 2015, the Company entered into a Patent Sale Agreement with Escue Wind S.L, a Spanish corporation (the "Seller), whereby the Company acquired certain United States and Canadian Patents for a "Straight-Bladed Vertical Axis Wind Turbine". The consideration paid by the Company to the Seller is 40,000,000 shares of the Company's common stock, with the total value of the transaction being $40,000,000.00. The Chief Executive Officer of the Seller is Sohail Quraeshi, who is also the Chief Executive Officer, President and a Director of the Company, Sohail Quraeshi is the record owner of Escue Wind S.L.
http://www.otcmarkets.com/edgar/GetFilingHtml?FilingID=10967047
Sohail Quraeshi- Chief Executive Officer, President and Director of ESCU
Sohail Quraeshi is also the holder of the Series A shares that give him 75% voting rights for ESCU.
I wonder if Saeed even knows whats going on? He owns no shares of the company and I don't see an employment contract for him in the S1.
I wonder what other interesting information can be found in the S1.
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