Max Sound Corporation (MAXD)

[grantastic]

Wow this gem buried in the 10k explains how Halpern managed to make the company owe him a million bucks even while the stock price was tanking:

"Return of Shares and Issuance of Preferred shares
On March 4, 2015 the Company filed a form 8K with the SEC associated with the Company entering into a Securities Exchange Agreement and the Company filing with the
Secretary of State Delaware a Certificate of Designations, Preferences and Rights whereby, among other things, the Company for good and valuable consideration, agreed that in
consideration of a large shareholder exchanging 120,000,000 shares of common stock back to the Company, the shareholder would receive 5,000,000 shares of Series A
Convertible Preferred Stock of the Company at a Stated Value of $0.96 per share and a Conversion Price of $0.04 per share. The Series A Convertible Preferred Stock carries
certain voting preferences and will accrue dividends at a rate of 8% per annum Stated Value, payable in cash or in kind at the election of the Board of Directors. For the year
ended December 31, 2016 and for the year ended December 31, 2015, the Company has not declared dividends."