Decentral Life Inc (WDLF)

[tankworth]

This message was found on the DD Support Board. It is a reposting of Mikey501's post #15367 to the SEWC board, in which he sought comments from the DD Board regarding the recent Share Structure changes at SEWC. Mikey posted the reply he received within 2 hours 20 minutes of his having received it on Sunday evening.


nodummy Member Level Sunday, 03/20/16 04:55:22 PM
Re: MIKEY501 post# 105609
Post #
105616
of 105724 Go
SEWC was an abandoned ticker (zombie ticker) that still publicly traded. The SEC failed to have the symbol deleted despite it being abandoned in 2012 and the ticker got hijacked by Robert L Stevens back in June of 2014.



Stevens through his entity White Tiger Partners LLC makes a living out of hijacking abandoned shells then selling them. In many cases they get sold to groups that use them for insider enrichment schemes that include paid promotion and illegal share sales, etc.

Lots of his shells later led to Indictments like BRYN (Harold Gallison who just got sentenced to 18 years in prison) or VLNX (Gregg Mulholland who is probably facing several years in prison once he gets sentenced). Despite the crazy number of his hijacked shells that get used for pump&dump schemes, the SEC just looks the other way while Robert Stevens continues with his hijackings.

Despite being granted the custodianship of the SEWC shell in June of 2014 it wasn't until January 2015 that Stevens reinstated the entity. He then sat on the shell looking for a buyer for more than a year.

On February 2, 2016, Stevens filed the 8k showing that the shell was being sold to Life Marketing Inc

http://www.otcmarkets.com/edgar/GetFilingHtml?FilingID=11141670

On March 17, 2016, the name of the SEWC entity was changed from Sew Cal Logo Inc to Social Life Network Inc at the Nevada SOS

http://nvsos.gov/sosentitysearch/CorpDetails.aspx?lx8nvq=XyywpW%252bBnf3tkFYywiEFCg%253d%253d

http://nvsos.gov/sosentitysearch/corpActions.aspx?lx8nvq=XyywpW%252bBnf3tkFYywiEFCg%253d%253d&CorpName=SOCIAL+LIFE+NETWORK%2c+INC.

The authorized share count was also lowered from 2,000,000,000 to 500,000,000.

Oddly enough despite the 8K in February for the acquisition with Life Marketing Inc, Robert L Stevens still listed himself as the sole officer/director of SEWC at the Nevada SOS when he did the new annual report on March 18, 2016.

This tells me that the acquisition is still being ironed out and hasn't officially happened yet. It appears though that steps are still headed in the right direction for it to happen.

Does the A/S being decreased from 2,000,000,000 to 500,000,000 mean that the outstanding share count has been reduced to under 500,000,000? Possibly, but I wouldn't be so quick to make that assumption.

First you state that the TA has verified in that the O/S is 1,956,248,963 shares.

Secondly, when you consider that between February 2nd when the 8k hit and February 10th nearly 400,000,000 shares were traded and the price not only couldn't get above $.0005/share but it ended up back at $.0001/share by February 10th, that doesn't support the outstanding share count being under 500,000,000 shares.

Thirdly, when you consider that another 120m shares traded on Friday, March 18th after the Nevada SOS filings hit and the ticker only managed to go up 1 tick then close back where it started at $.0003/share, that again doesn't support the outstanding share count being under 500,000,000 shares.

Fourthly, the only way Robert L Stevens could have hijacked the shell is if the old control people failed to show up to object to the custodianship petition. If they were not around to object to the custodianship petition, I doubt Stevens could have found the owners of 1.5m shares to get them to suddenly agree to return those shares to the treasury.



Maybe, the possibly of a share reduction can be more seriously considered if the ticker continues to consistently get heavy volume over a longer stretch and L2 eventually thins out to something more representative of a share structure under 500,000,000 shares outstanding, but unless that happens or the TA or company confirms the outstanding share count is now under 500,000,000, I think people need to seriously consider the possibility that the amended filing may actually be for a 1:4 reverse split (or bigger). I've seen several examples in the past when a reverse split was done but instead of a reverse split amendment the corporate action was done using a share structure amendment.

The last thing you want to be is stuck holding if a 1:4 reverse split (or bigger) to go with a name change to Social Life Network Inc shows up on the daily list.


Maybe that was the hold up on the acquisition/merger completing was the toxic share structure. A reverse split would fix that.


It looks like Life Marketing Inc is a Colorado business entity that was formed in 2013 under the name The WeedApp LLC.

https://www.sos.state.co.us/biz/BusinessEntityDetail.do?quitButtonDestination=BusinessEntityResults&nameTyp=ENT&entityId2=20131233354&srchTyp=ENTITY&fileId=20151037437&masterFileId=20131233354

In 2014 they changed their name to Life Marketing LLC then again to Life Marketing Inc.

This is their main website:

http://www.lifemarketing.us/

They offer website design and website marketing/SEO/social media type services

Being from Colorado it makes sense that they have a special interest in website design/marketing specifically for weed/marijuana companies

https://www.weedlifenetwork.com/










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