Cardinal Resources Inc fka CDNL

[lowtrade]

Been spending a lot time chasing down share structure.

Last 10k Sept 30, 2015, SC 13G's / form 4's the 8k's, debit; both conversions and existing as of Sept 30 2015 and judgment info just released.

Really trying to understand why first round of funding was priced @ 10 cents a share? And Where the 300 mil OS increase between Feb & Apr 2016 went.

Pre Oct 2015 OS was 112 mill

From page f5 of last 10q
As of September 30, 2015 the Company had outstanding balances on its convertible notes in the amount of $499,732. Yet adding up note balances after the below, from the table, figures say they had $622k of convertible notes outstanding.

During the nine months ended September 30, 2015, the Company issued 26,792,312 shares of common stocks for the conversion of $290,262 convertible notes payable and accrued interest payable.
Page f6 of last 10q That's aprox 1 cent a share.

CDNL really needs that new CFO.

Since Sept 30, 2015
10% ownership conversions reported.
TYPENX own 21 mil Oct. 112 mil & Feb 2015 215 mil OS's per conversions
TANGIER own 51 mil Apr 2016 515 mil OS per conversion

Sept 30 2015 10q
As of January 14 , 2016 , there were 215,967,675 shares outstanding of the registrant's common stock.


My problem;
Conversions up to Sept 2015 went @ 1 cent a share, Stock price Oct to Dec during LOI & SPA was half a cent to 3.5 cents. How did CDNL & China come up with 10 cents a share?

There is no info or reports about more convertible notes closing. Other then the 2 I posted. So where did the 300 mil shares between those 2 reports go?

Now the CEO states they only have $10k of outstanding debit. And an OS of 518 mil.

Now I'm back to Sept 30 2015 had $622k in table of debit. Using the 300 mil phantom shares, in 2016. Stock price was pulled down to .004. And of the 11 outstanding loans all were at least 50% toxic, so 300 mil x .002 conversion = $600k cleared. This seems to fit. But, if the 11 closed for .002 there was several new issues which would have been grater then 10% of the OS and there should have been SC 13g's. Because the 11 were from $90k to $31k, That's from 45 mil issued to 15.5 mil. Of the 11, all had to nbe over 5% of OS and some over 10%. Yet no SC 13g'S.

The numbers for CDNL share structure just don't add up or make sense. And why China would except 10 cents a share. When stock price was under 3.5 and debit was clearing at 1 cent, also doesn't add up or make sense.

All this became interesting when I evaluated the share volume pre price run. Back April 11th just after the TANGIER 51 mil conversion. April 11 to 15th 151 mil shares traded @ .003. That's $450,000 worth of buying. Then from Apr 15th to May 9th run peak, 200 mil was sold. CDNL went from under the radar, to top of the radar. With greatly increased filings and news up dates !!! Then May 10th The company got it's $1.1 mil funding 1/3 of 1st trance.

Hence my last post about the LOI. Just what was actually agreed to in that, other then in the SPA which will effect funding releases??? Because if CDNL management just authorized a share buy back because of the LOI. There may be other handshake deals unknown.

So who has $450k to invest in a almost 4x run. And why was the timing synced so well to unusual company news release increases. I haven't seen any of the conversion shares in the volume. And just can't justify 10 cents or why conversion is being held. Both reported and phantom's.

But after doing this type of research on many many old days OTC stock runs. From under my "tin foil hat" I'm thinking those in the know drove this resent move. Sort of off the books with personal accounts. And when they sold all accumulated per run the little guy volume dried up to what we see now. Said it before and will say it again. Runs don't continue unless there's a big guy feeding the run higher. Someone always holds a lot of shares for sale low, to sell into the run. Else who's going to sell to retail? Other little retailer? Retail buys runs they don't sell runs.


Ps; incase anyone doesn't know, the China shares are restricted. Long term investment shares. Not that they would want to sell holding @ 10 cents. LOL Also the second round of funding share issue price wasn't set.

But 51% of the OS is the max target. So I really really want to know accurate share structure. With a 1 bil AS and reverse split, on success, down the road. And China holding only 6% of 518 mil OS +/- at the end of trance 1. Thing could become touch & go for trance II. & Mr. Li Jie Shan

Take all this BS and make of it what you will. I think there is potential here, but for different reasons then the board posters. But I'll still swing trade in & out with price action.