Sibannac Inc (SNNC)

[agribusiness72]

Here we go Mersky and a 10Q "thru Feb" Guess DRNK is in fact dead:

Exerpts:

The accompanying condensed consolidated financial statements have been prepared assuming the Company will continue as a going concern. As of February 28, 2017, the Company had an accumulated deficit of $454,316 and working capital deficit of $396,126. These factors create a substantial doubt regarding the Company’s ability to continue as a going concern. The accompanying financial statements do not include any adjustments that might be necessary if the Company is unable to continue as a going concern.

Here comes the dilution and paying oneself thru toxic and very high financed loans:
On July 14, 2017, the Company filed Amended and Restated Articles of Incorporation, which included increasing the authorized capital stock of the Company to 120,000,000 shares, consisting of 110,000,000 shares of par value $0.001 common stock and 10,000,000 shares of par value $0.001 preferred stock. The board of directors of the Company may issue the preferred stock in one or more series and may designate voting powers, conversion rights, liquidation preferences and other terms and conditions.



On August 22, 2017, the Company sold 3,333,333 shares of common stock at $0.03 per share and received proceeds of $100,000.



On December 4, 2017, the Company issued a Promissory Note for $200,000.00 at 15% annual interest. The Note is convertible at a 30% discount to a 5 day lowest average bid price, however, the Company has 6 months to repay the Note before any conversions take place.