I'm trying to put this out for people to read and give me a valid response but people over look this as if I'm making it up ??
Please don't take this the wrong way. I'm invested in this company. I like the filings. I like the CEO. But this is my main problem...
If you look closely at the company profile on the otcmarkets.com site you will see that the transfer agent has only verified the outstanding shares authorized shares and the float. It is marked with a blue shield symbolizing what it is verified.
Going back a few years at the time there were 4,000,000 shares held by the CEO at $4,000
And then a public offering at .05 of 1,175,000 for $58,750 there was then a forward split of 50-1 and the shares were 200,000,000 for the CEO and 58,750,000 to the public. The share price climbed to $1.52 at hits all time high giving a market cap of $393,000,000 the company had not even began functioning yet. the market cap should have been somewhere around $65,000.
She couldn't sell her shares because it was a non sense market cap.
I know it may sound stupid but until all or at least all the shares being held on the float have been flipped back to the market prices from their diluted levels the price will remain low on very low volume.
I believe once the Amazon pre sales and the actual Amazon platform start up followed by the 10-q the price should rise and a lot of the shares that are here will be flipped back for a profit and it will start to form new levels.
I understand what people following the charts see but it is being blurred by the diluted shares. All it takes is someone holding 7,500,000 shares at .0001 to sell at .017 or something tomorrow and it changes everything.
The transfer agent is verifying the shares but as it seems on the otcmarket site not all the share structure is being verified. They verify the o/s a/s and float which hasn't updated in three weeks.
Also:
500,000,000 (shares authorized)
301,640,836 (shares outstanding)
200,000,000 (CEO originally held common)
-150,000,000 (retired shares)
50,000,000 (CEO held common)
58,750,000 (2014 offering)
42,500 (legal services)
7,500,000 (adebayo Lapido)
404,000 (converted loan interest shares)
184,748,966 (converted 6 loans shares)
301,445,466 (total)
301,640,837 (shares outstanding)
301,445,466 (shares held according to 10-Q)
195,370 (Difference)
Do you or can anyone find where the remaining 195,370 issued shares were issued? It's not that big of a deal but I believe it should be located somewhere in the filings whether it be for legal documents or consultation etc.
I've contacted the transfer agency many times with no response
