Monday, July 09, 2018 10:35:06 PM
Mr. Arcaro was remunerated with company stock and upon the subsequent private sale of that Company stock to Palewater Global Management Inc.resigned his officer and director positions on February 16, 2018 and has no further involvement with the Company
Inasmuch as Joseph Arcaro and Mandla Gwadiso are deemed to be promoters of the Company within the meaning of Securities Act Rule 405, certain disclosures are required in this registration statement by Item 404(c) of Regulation S-K.[/]
These include the following:
Joseph Arcaro received 400,000,000 shares of common stock of the Company in connection with performing his role as custodian of the Company, and in connection with the reorganization of the Company. These services were acquired by the Company from Arcaro at a value of $0.001 per share determined by Arcaro and in his sole discretion. the Company issued 400,000,000 shares of common stock and 5,000,000 shares of Series A preferred stock for repayment of related party debt totaling $15,531 and consulting expense of $65,469 to Algonquin Partners solely owned by Mr. Joseph Arcaro, the previous CEO
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