Saturday, February 17, 2018 2:11:48 PM
LMAO Earlier, you were arguing that nobody but insiders benefited from Paul spending $3 million to purchase 420Cloud. Now we see that the entire $3 million was returned to mCig in shares of OBITX stock. From the S-1...
OBITX S-1
...as for...
The S-1 is completely transparent with regard to who owns OBITX shares. No insiders own preferred shares. There are only 100,000 Preferred shares issued and they are all owned by mCig (translation, mCig shareholders). Once more, the $3 million warrants are priced at $1/share, which means if exercised, OBITX will raise $3 million and the pps will be over $1...
mCig didn't have to issue a dividend. mCig shareholders would have still benefited from the increasing value of OBITX shares. mCig gets to claim 49.1% of OBITX earnings on its Financials as revenue. OBITX, in the meantime, still can claim 100% according to GAAP accounting regs.
Finally, all share transactions by insiders need to be reported and Rule 144 prohibits them from selling any shares for 6 months and only allows them to sell 1% of OS shares during a three month period. From the S-1...
Debunked Again!
Les
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