BrewBilt Brewing Co (BRBL)

[kennypooh]

"That was an unusual move, but I suppose they think it makes them look "serious". My guess is that they'll be raising the a/s again within six months; after all, it's not hard to do."

Janice...Looks to me like SIML management issued most of the shares in the new O/S to themselves on Aug 3, then lowered the A/S Aug 16 to 168,000,000 to effectively block any additional conversions by any old note holders??

They issued 136 million free shares to themselves (the shares cost them nothing as they contributed nothing of verifiable value).

From the latest 10-Q:

"ITEM 2. UNREGISTERED SALES OF EQUITY SECURITIES AND USE OF PROCEEDS
2. Subsequent Issuances:

On August 3, 2016, the Company issued 34,090,909 common shares to each of the Beneficial Shareholders, which totals 136,363,636.

On August 3, 2016, the Company issued 174,581 preferred Series-A shares to each of the Beneficial Shareholders, which totals 698,324.

These securities were issued pursuant to Section 4(2) of the Securities Act and/or Rule 506 promulgated thereunder. The holders represented their intention to acquire the securities for investment only and not with a view towards distribution. The investors were given adequate information about us to make an informed investment decision. We did not engage in any general solicitation or advertising. We directed our transfer agent to issue the stock certificates with the appropriate restrictive legend affixed to the restricted stock."