Global Ecology Corporation (GLEC)

[cleaningup]

There's also a very public paper trail for GLEC exchanging GLEC shares (not GECO shares) for loans to develop Castleberry soil. It's in the 8k re: the Nov. 2011 loan of $1.5 million to Dr. Michael Corrado (text and link below). He was given 2,000,000 GLEC shares AND 12.5% of future profits.

"On August 19, 2011, we executed a promissory note with Corrado Family Limited Partnership, or the lender, in the principal amount of $1,500,000, the Promissory Note.

The material terms of the Promissory Note provide for: (i) an interest rate of 10.00% per year; (ii) an initial maturity date of August 11, 2014 for the repayment of $500,000 and an additional maturity date of August 11, 2016 for the principal amount of $1,000,000; (ii) inducement payments paid to the lender of 12.5% of the net profits of our soil production facilities located in the state of Alabama; and (iv) the issuance of 2,000,000 shares of our common stock to the lender and the issuance of option to lender for the purchase of an additional 4,000,000 shares of our common stock at $0.10 per share. We may prepay the principal balance of the note, plus interest thereon, in part or in whole at any time. If an event of default occurs, the lender can among other things accelerate payment of the outstanding principal balance plus interest. We will use the proceeds from the note to develop our proprietary high grade fertilized soil for commercial use."

https://www.sec.gov/Archives/edgar/data/790066/000150441211000060/geco8krenotewithcorrado.htm