Broadside Enterprises Inc. (BRSE)

[TmanB]

Filing is out ... Nothing new there besides these things that I have found (might have missed some, but feel free to point out)

Concerning the framepool deal

On or about April 10, 2017, Framepool filed for insolvency in Germany. As a result, the Company has created a
loss reserve provision of $1,577,793 for contingent liabilities pertaining to the Framepool transaction and has
not consolidated its financial results with these financial statements as previously anticipated. On June 20, 2017,
substantially all of the assets of Framepool were sold to Rightsmith, Inc, Los Angeles, by the German insolvency administrator of Framepool, Rolf G. Pohlman, for an undisclosed amount. The Company has been
informed by the bankruptcy administrator that its claims have been denied by the estate. As a consequence, no
recoveries from this transaction are expected to materialize. The Company is considering further legal steps.


Concerning the Outstanding and Authorized stock structure

On January 12, 2018 (subsequent to the end of the financial year ended December 31, 2017), the Company increased
the par value of all of its outstanding classes of stock to from $0.00001 to $0.01 per share. On said date, the
Company’s authorized share capital was reduced to from 10,800,000,000 to 50,000,000 of Common Stock and
1,000,000 of Preferred Stock.


Funding

On January 15, 2018, the Company entered into a stock subscription agreement for 1,000,000 shares of Common
Stock in return for an investment of US$ 200,000 with a private investor. Funds were received during the first
quarter of 2018.