Most of the dilution took place in 2016.
There was still $185,000 debt at end of 2016. Conversion of that to stock would require 21B more shares at today's price. (.0086) So, that can't happen under the current SS.
In May, the SS looked like this:
Common shares authorized: ---- 1,000,000,000 as of May 12, 2016 Total shares outstanding ----- 880,022,902 as of May 12, 2016 Restricted shares ------------ 707,485,056 as of May 12, 2016 Float --------------------- 172,537,846 as of May 12, 2016
McFadden had:
James McFadden located at 9850 S. Maryland Pkwy., Suite 105, Las Vegas, Nevada 89183 holds approximately 65.34%, or 575,000,000 of the Company's 880,022,902 outstanding shares.
By the end of September, 2016
Common shares authorized: 2,500,000,000 as of September 30, 2016
Total shares outstanding - 1,388,522,902 as of September 30, 2016
Restricted shares -------- 582,484,956 as of September 30, 2016
Float ----------------- 806,037,946 as of September 30, 2016
By the end of December, 2016:
Common shares authorized: -- 2,500,000,000 as of December 31, 2016
Total shares outstanding --- 2,204,522,902 as of December 31, 2016
Restricted shares ---------- 707,484,706 as of December 31, 2016
Float ------------------- 1,497,038,196 as of December 31, 2016
McFadden holds:
James McFadden holds approximately 55.37% of the total voting power of the Company, which is comprised of 605,000,000 common stock of the Company's 2,204,522,902 outstanding common shares and 2,000,000,000 of the total 2,500,000,000 possible voting preferred based on the 5,000,000 preferred shares issued and outstanding as of the date of this filing.
Debt Conversion to Stock
Company entered into a Settlement Agreement and Claims Purchase Agreement on August 10, 2016 for a total of $325,000.00 in debt. Shares were converted into stock based on a draw-down of the debt pursuant to a court action based on a Section 3(a)(10) legal opinion as follows: Date Shares Issued Price Per Share Amount of Debt • 8/12 7,500,000 0.00093 $7,000 • 8/22 40,000,000 0.0005 $20,000 • 8/23 45,000,000 0.0005 $22,500 • 8/30 70,000,000 0.0002 $14,000 • 9/08 87,000,000 0.0002 $17,400 • 9/15 54,000,000 0.0002 $10,800 • 9/23 85,000,000 0.0001 $8,500 • 9/26 120,000,000 0.00005 $6,000 • 10/04 130,000,000 0.00005 $6,500 • 10/06 110,000,000 0.00005 $5,500 • 10/10 160,000,000 0.00005 $8,000 • 10/19 160,000,000 0.00005 $8,000 • 10/21 190,000,000 0.00005 $9,500 • 11/30 96,000,000 0.00005 $4,800
TOTALS 1,314,000,000 Debt Draw down as of 12/31 $140,000
Balance of Debt Remaining As of 12/31/16: $185,000
This debt probably still exists, as AMLH wasn't actually generating any revenue. The SS won't permit it to be converted as it stands. We will learn about the first quarter condition in mid-May, if filed on time.
It is going to take a lot of revenue to buy back shares to reduce the OS and eventually shrink the AS. An R/S would shrink the OS, but with the existing debt, it would only lead to more dilution. So, the current debt should be paid off in cash so it can't dilute, then shares would have to be bought back (from us) to reduce the OS, which would raise the stock price. THAT is why we want to know where their revenue is going to come from.
