Question #1 raised by this 8-K:
Why does Seth Shaw keep signing documents submitted to the State of Florida and the SEC that say that the par value of the common stock is $.001?
This is important because the share price has been below $.001 a lot lately and the notes issued by the company all say:
"To the extent the Conversion Price of the Company’s Common Stock closes below the par value per share, the Company will take all steps necessary to solicit the consent of the stockholders to reduce the par value to the lowest value possible under law."
The State of Florida has been told since the date of the Company's Incorporation in 2001 that the common stock has a par value of $.001. The State and the SEC were told that as recently as in the share authorization increase Proxy Statement signed by Seth Shaw in May:
"The Board of Directors recommends that you vote FOR the approval of the Company’s proposal to amend the Articles of Incorporation of the Company by amending the first paragraph of Article SECOND thereof to provide that the number of authorized shares of Common Stock of the Company shall be 7,500,000,000, having a par value $0.001 per share."
It was repeated in the change to the company's Articles of Incorporation filed with Florida on June 29th, again signed by Seth Shaw:
"The aggregate number of share which the Company shall have the authority to issue is 7,500,000,000 shares of common stock. $.001 par value."
Fortunately all the documents signed by the CEO and others that say that the common stock par value is $.001 (and there have been more than just those two in the last decade or so) seem to be incorrect. Why does he KEEP DOING IT?
But can it core A apple?
Yes Ralph, of course it can core A apple.
