It also says that the tranfer agent will hold the 150 million shares until notified by the note holder of conversion. Ask yourself how that works with the "limitation".
The only thing you can be sure of is this: Fife didn't forgive 2 million in debt out of the goodness of his heart. You can also be sure he and Marc are working behind the scenes hand in glove. After all, did you as a shareholder get a say in this little transaction? And 150 million shares. Just what's needed to make sure Chan isn't a majority holder. This all stinks to high heaven.
The SEC should take a look at what's happening here.
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