BlockQuarry Corp (BLQC)

[loanranger]

Are you kidding? Let's try this again:

The Company says that it has reduced its debt through various methods.
1. "the deployment of free cash from operations toward a $50K debt repurchase and retirement"
That's easy. They say that they had some extra cash and used it to pay off $50K in debt.

2. "$110K in outstanding debt has been formally forgiven by creditors"
That says, if you want to believe it, that they owed $110K to certain creditors who just decide to let them slide for it without any compensation...that's what forgiven means.

3. "an additional $50K has been repurchased and retired by the Company over recent days"
Repurchased with what? Cash? Or shares?

4. "management reports that the Company is in active negotiation toward the forgiving of an additional $120K in outstanding liabilities"
Again, "forgiving" debt means accepting its cancellation without any compensation. Hard to believe that a sane creditor would do that.


Then we're told this:
"As a consequence of this effort, shareholders saw a 4.6 million share reduction in the share float statistics for the stock on OTCmarkets.com."

There is NOTHING in the description of "this effort" that would result in a REDUCTION in the float.
I'm not "unsure of the reason why they reduced the ss by an additional 4.6 million shares". I don't know HOW they made the reduction and their explanation was nonsensical.