Web Blockchain Media Inc (WEBB)

[gumzsa]

RM occured last year new management credentials listed below as well. It was hidden in December's filing I finally got around to reading it. SS is big now but float remains small trades thin.

https://www.otcmarkets.com/stock/WEBB/disclosure

Steve Slome, President, Chief Executive Officer, Chief Financial Officer and Director .



For the past 10 years Mr. Slome’s format creations and production experience has been optioned and sold to cable, broadcast and content outlets such as Fox, Sony/Crackle and CMT. Such titles include Texas Women and Growing up X. Mr. Slome’s is formerly affiliated with Unified Pictures and Phaedra Cinema where he helped distribute, produce and finance such features films as Noah’s Ark, Bob Funk, and J-23.



Lee Mattheu, Chief Operating Officer.



Mr. Mattheu has worked as an independent film and television producer for over the past 15 years. With a wide variety of production duties, Mr. Mattheu has excelled as a grip, researcher, production coordinator, casting assistant, assistant director, editor, producer and animal wrangler for commercials, television and low budget feature films. In 2006 after partnering with another producer and formed Meadowknoll Productions, LLC who’s corporate clients include YouTube Next Labs, Google, “American Idol”, AOL, Shoot LA Film, and Sony Crackle. Mr. Mattheu has also worked for Warner Brothers Archives and as an assistant for agents at Paradigm, and CAA. Mr. Mattheu graduated from the USC School of Film and Television where he was also a reporter and film critic for the school’s newspaper.

Reverse Merger



On November 30, 2017, the Company executed a reverse merger with Allocation Media Entertainment, Inc. whereby the Company acquired 100% of Allocation Media, in exchange for 2,700,000,000 shares of Webb Interactive Services common stock and 10,000,000 shares of Series A Preferred Stock. Immediately prior to the reverse merger, there were 19,781,537 common shares outstanding and no shares of Preferred shares outstanding and Matt Billington was the sole officer/director. After the reverse merger, the Company had 2,719,781,537 Common shares outstanding and 0 shares of Preferred shares outstanding.



Allocation Media Entertainment was incorporated in the State of Colorado on August 4, 2017. Allocation Media Entertainment was the surviving Company and became a wholly owned subsidiary of Webb Interactive Services. Webb Interactive Services had no operations, assets or liabilities prior to the reverse merger. This is the current corporate organization:






Organization and Operations



Webb Interactive Services, Inc., (“Webb”, “we”, “us”, or the “Company”) is a Colorado corporation incorporated on October 9, 2014. Allocation Media Entertainment was incorporated on August 4, 2017 in Colorado.



Following its November 30, 2017, acquisition of 100% ownership interest of Allocation Media Entertainment, a Colorado Corporation (“Allocation Media”) the Company creates and distributes both unscripted and scripted television programming. We specialize in high concept material that is inspiring, entertaining and thought-provoking. Our shows are expected to be distributed to numerous broadcast, cable, syndicated, digital and foreign territories around the world.



Change in Fiscal Year.



On November 30, 2017, our Board of Directors approved a change in our Fiscal Year from December 31 to November 30 in connection with our acquisition of Allocation Media. The change in fiscal year became effective for our 2017 fiscal year, which began on August 4, 2017 (date of inception of Allocation Media) and ended November 30, 2017. Allocation Media had a fiscal year of November 30. Due to reverse acquisition with Allocation Media, all of the financial statements prior to the acquisition date are of Allocation Media and accordingly we have presented consolidation financial statements for the period of inception for Allocation Media, which began on August 4, 2017 and ended on November 30, 2017.



Share Exchange and Reorganization



On November 30, 2017 (the “Effective Date”), Allocation Media Entertainment merged into Webb Interactive Services, Inc., and became a 100% subsidiary of Webb. Furthermore, the Company entered into and closed on a share exchange agreement with Webb and its shareholders.



Pursuant to the terms of the share exchange agreement, Webb issued 2,700,000,000 shares of its unregistered common stock and 10,000,000 shares of Series A Preferred Stock to the shareholders of Allocation Media in exchange for 1,000 shares of Allocation Media’s common stock, representing 100% of its issued and outstanding common stock and as a result of the share exchange agreement, Allocation Media became a wholly owned subsidiary of Webb.



Recapitalization



For financial accounting purposes, this transaction was treated as a reverse acquisition by Allocation Media, and resulted in a recapitalization with Allocation Media being the accounting acquirer and Webb as the acquired company. The consummation of this reverse acquisition resulted in a change of control. Accordingly, the historical financial statements prior to the acquisition are those of the accounting acquirer, Allocation Media and have been prepared to give retroactive effect to the reverse acquisition completed on November 30, 2017, and represent the operations of Allocation Media. The consolidated financial statements after the acquisition date, November 30, 2017 include the balance sheets of both companies at historical cost, the historical results of Allocation Media and the results of the Company from the acquisition date. All share and per share information in the accompanying consolidated financial statements and footnotes has been retroactively restated to reflect the recapitalization.