Hmm.. I'll need to sit on the 8k for awhile but it sure does look like a $5,000,000 reason to drive the company into the ground or be prepared for when/if it goes under.
Why would he need to give himself shares in lieu of the bonus he had a contract for when they are supposedly raking in cash now? How is this in the best interest of the company when literally the entire amount of shares has been given to one person instead of $150,000? I'd prefer he pay himself the bonus rather than drive my investment to 50% of it's original value by doubling the shares on the table?
It's definitely unnerving and I really can't see how this makes the pps go up. I would think it would go down so my new purchase price is .0003- (IF I intend to buy more, which is highly unlikely). My new sell dropped from .03 to .006 to try and get out before the penny slime monster takes hold.
I can't imagine this going to a penny w/ potentially a billion AS, mystery shares coming in large volumes, the doubling of the float in a few short months. Why someone would give themselves massive voting rights when they didn't appear to be anyone contesting anything anyways. It's clearly a power/greed move.
It's a penny stock for a reason and now we're starting to see why.
Good Luck. I may be wrong but something is not sitting right and something tells me things aren't going to be a profitable as implied.
Or rather not profitable for investors...just corporate sleaze.
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