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Sunday, July 16, 2017 4:50:03 PM
When an employee takes stock in lieu of cash it is considered employment compensation. If it's a consultant to the company, it is stated as consideration for services rendered.
The subsequent event section on page 12 CLEARLY states 2.12 billion shares of restricted stock were issued to several individuals (Sharks) for CASH PROCEEDS of $127,500.
This transaction was broken up into several people so that they would not own more than 9.9% of the outstanding shares and become Affiliates to the company and have their selling restricted once they remove the restrictive legend off of the certificates. This also gives these non-affiliated sharks a cost basis of .00006 cents a share and you can bet they are licking their chops to take their profits at the shareholders expense!
These are the undisputed facts.
Serious consideration should be taken with anyone purposely giving out misinformation.
The language is VERY CLEAR in the 10Q.
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