Thursday, March 17, 2016 6:59:51 PM
With a total of 87,899,861 Common shares outstanding currently, my 68,588,764 votes is 722,333 votes BELOW the 50% threshold.
Therefore, at a price of $0.015 per share, it will cost me and my investors just $10,835 to make up that difference in order to definitively hold the majority vote even in the unlikely event that every single one of the other Common shareholders were to vote against us.
The Power of Attorney paperwork is still being taken care of and I will file it with the SEC in an 8-K as soon as it is available.
As a reminder, I hold the right to repurchase the 10,000,000 Preferred shares, and the relative voting power of those shares cannot be diluted through new share sales or by restructuring without my consent, pursuant to the agreements entered into by Adia Nutrition and Shelly Singhal in 2011. This was disclosed in SEC filings previously, which can be found here:
http://www.otcmarkets.com/stock/ADIA/filings
These events aren't happening with the cooperation of Shelly Singhal or Bill Hodson, but neither of them have the right to interfere in these steps and I think everyone agrees at this point that these steps are clearly necessary to protect shareholder value.
ADIA is in fact eligible to raise new capital pursuant to the new JOBS Act Rules, in part due to my contributions to the SEC Rulemaking process dating back to 2012.
We might conduct a Regulation A+ Public Offering, in which case please note:
(1) No money or other consideration is being solicited, and if sent, will not be accepted;
(2) no sales will be made or commitments to purchase accepted until the offering statement is qualified; and
(3) a prospective purchaser’s indication of interest is non-binding.
And for further reference please see:
https://twitter.com/JasonCoombsCEO/status/612016418029072384
https://twitter.com/JasonCoombsCEO/status/612016493023236097
https://twitter.com/JasonCoombsCEO/status/612016541886853120
https://twitter.com/JasonCoombsCEO/status/609479695629836288
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