Decision Diagnostics Corp (DECN)

[scoop9]

So per the filing....

"During the year ended December 31, 2011, we issued 1,250 shares of our preferred series “C” stock to our patent attorney for prepaid patent defense legal fees valued at $1,250,000."

However,where is the entry on the Balance sheet?



December 31,
2011 2010

Assets


(Restated)

Current assets:

Cash $14,869 $220,390

Accounts receivable, net of allowance 3,256,504 3,155,184

Prepaid expenses 1,266,576 1,314,644

Total current assets 4,537,949 4,690,218


So if it isn't recorded,I guess all we can do is assess if the shares were ever converted(cashed in).

As of Q1,2017....Class conversions.

PREFERRED C STOCK
Date
Description
Change in Shares
Running Total
1/4/2012 New Issuance-Michael Belcher
1,250 1,250
8/27/2013 New Issuance-Lathrop Gage LLC
1,500 2,750
10/28/2013 Conversion-Michael Belcher
(70) 2,680
2/18/2014 Conversion-Michael Belcher
(70) 2,610
12/30/2015 New Issuance-Navesink Device Initiatives
1,475 4,085
3/21/2016 New Issuance-Paradigm Capital
800 4,885
4/26/2016 New Issuance-LICGO Partners
1,050 5,935
4/26/2016 New Issuance-Paradigm Capital
325 6,260
5/17/2016 Conversion-Navesink Device
(125) 6,135
5/18/2016 New Issuance-LICGO Partners
300 6,435
5/18/2016 New Issuance-Paradigm Capital
50 6,485
6/27/2016 Conversion-Navesink Device
(125) 6,360
8/2/2016 Conversion-Navesink Device
(125) 6,235


https://www.otcmarkets.com/financialReportViewer?symbol=DECN&id=172060


The stock seemingly is sitting at the attorney's Firm.

But why? To what end?

Just like settlement monies from the J&J case that were pooled
under the stewardship of the Law Firn via prepaid legal.

Really?



Scoop