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Thursday, September 28, 2017 2:53:34 PM
They went down that road as a way to give free shares to Chang.
They issued 245,960,622 shares of VSPC stock in 2008 to Sung Chang to "purchase" his Inter-Pacific Arts company and "GKG license". When they couldn't/didn't/wouldn't meet the requirements of the GKG license, Chang got to take his business back, and keep the 245,960,622 shares of VSPC stock.
Free shares. Per the most recent 10-K, Chang is liquidating ALL of his shares. I wonder how much cash Carl gets from Chang as Chang sells all of his shares?
Rule #1 is never lose money.
Rule #2 is never forget Rule #1.
My posts are my opinions only. Do you your own due diligence.
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