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Friday, December 01, 2017 7:30:37 AM
Even if this amount constitutes payment for legal services to his father, it is misclassified. And just plain wrong. The company, apparently, is in dire financial position and unable to pay for voluntarily filed lawsuits.
It is so ironic. The company conducts a litigation against "illegally issued shares" that were issued in consideration for consulting services to old management, yet AT THE SAME TIME it is throwing around millions and millions of shares issued for consulting services to various parties and sold at $0.0001 when the share price at the time of issuance was around $0.05!. This guy received $315,000 worth of free trading stock to pay down $700 of debt for an undisclosed service.
It is just too ridiculous.
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