FROGGER'S HIDEOUT

[Aunt Fannie]

FNIT NEWS 3/3/2016



Mar 03, 2016
OTC Disclosure & News Service

Atlanta, GA - Findit, Inc. (OTC Pinksheet:FDIT), an innovative social media management company, today announced that it has swapped 1.3 billion shares of its Common Stock for Series B Convertible Preferred Stock. In connection with the swap, the holders of the Common Stock being swapped, LinkMyFan, Inc. and WooEB, Inc., have agreed not to convert their Preferred Stock for a period of 18 months as of December 31st, 2015.



“This benefits our Common Stock Shareholders,” said Raymond Firth, President of Findit, “by reducing the outstanding Common Stock and emphasizing the long term commitment of our shareholders receiving the Preferred Shares.”

Outstanding Common Stock will be reduced from 1,629,170,032 to 329,170,032 shares. Of these 329,170,032 shares outstanding, a minimum of 238,102,079 are restricted under Rule 144. This would limit the amount of shares that can be sold under Rule 144 to a maximum number, based on 1%, of only about 3,300,000 every 90 days. Prior to the conversion it was over 16,000,000 shares per 90 days.

The Company estimates the number of Common shares restricted that have not been freed up by shareholders that hold restricted certificates at approximately 26,984,295 bringing the total number of restricted shares to 260,568,079 leaving approximately 59,327,077 shares of Common Stock in the float.