GigWorld Inc (fka GIGW)

[Big Brother]

Watching this one, probably about to start trading soon as someone keeps jumping my bid hard, getting a bit too rich for my taste though especially considering this:

Item 3.02
Unregistered Sales of Equity Securities.
On March 27, 2017, SeD acquired 500,988,889 shares of the Company’s common stock in exchange for $450,890.00 of debt owed by the Company to SeD at a conversion price of $0.0009 per share, as described in Item 1.01 above, which is incorporated herein by reference. The issuance of these shares was completed in accordance with the exemption provided by Section 4(a)(2) of the Securities Act of 1933, as amended.

Item 5.07
Submission of Matters to a Vote of Security Holders.

On March 28, 2017, the Company’s majority stockholder, SeD, who owns 5,801,687 shares of the Company’s common stock, or collectively 98.17% of the Company’s outstanding voting securities, approved an increase in the number of the Company’s authorized shares of common stock from 500,000,000 to 1,000,000,000 by means of an amendment to the Company’s Articles of Incorporation. This increase in authorized shares will permit the Company to issue the 500,988,889 shares of common stock described in Item 1.01 above, which is incorporated by referenced herein. This amendment to the Company’s Articles of Incorporation will be further described in a definitive information statement to be filed by the Company.