InvestorsHub Logo
Followers 438
Posts 41282
Boards Moderated 0
Alias Born 10/07/2010

Re: Not_on_the_rug post# 41237

Wednesday, 09/11/2019 12:29:21 AM

Wednesday, September 11, 2019 12:29:21 AM

Post# of 73938
Steve Ross owns LESS than 10%. there is a reason he shows owning 9.88% in filings. anything less than 10% means he is not considered an affiliate or control person and would not have the same restrictions as a beneficial holder owning MORE THAN 10%..
https://www.sec.gov/Archives/edgar/data/1492448/000107997319000471/dcgd_10k-043019.htm
Steven Ross
2275 NW 150th St. Unit D
Opa Locka, FL 33054

Common Stock


24,688,481



9.88%

1) The number and percentage of shares beneficially owned is determined under rules of the SEC and the information is not necessarily indicative of beneficial ownership for any other purpose.


Affiliates Are Those Who Beneficially Own Greater Than 10% Rule 144 considers Shareholders who “beneficially own” greater than 10% of an Issuer’s outstanding stock, of any class, to be an Affiliate, or Control Person, which subjects them to volume trading limitations.

That's the advantage of keeping it BELOW 10%. And a very important distinction to make.



=======
Most of the shares from the two guys (Stephen Flechner and David Cutler.) that sold to Costello appear to have been issued them in APRIL 2018.
https://www.sec.gov/Archives/edgar/data/1492448/000107997318000506/dcgd_1012ga1.htm



On April 13, 2018, we issued 69,500,000 shares of our common stock valued at $90,350 to a current director
and officer of ours in settlement of the substantial majority of his accrued compensation.

On April 13, 2018, we issued 69,500,000 shares of our common stock valued at $90,350 to a former director and officer of ours in settlement of the substantial majority of his accrued compensation.

On April 23, 2018, we issued 3,100,000 shares of our common stock valued at $4,650 to a creditor of ours in settlement of the balance due to him.

Effective May 2, 2018, we entered into an agreement with our principal outstanding creditor and the two shareholders controlling the majority of our outstanding shares of common stock pursuant to which all parties agreed that in the event that the two controlling shareholders were to sell their shares, the outstanding liability to the creditor will be satisfied in full out of the sales proceeds received by the two controlling shareholders. This agreement expires at December 31, 2018.

appear renegotiated after:
However, effective December 31, 2018 the term of the agreement was extended to April 30, 2019, and effective April 30, 2019, the term of the agreement was further extended to August 31, 2019.


====
https://www.sec.gov/cgi-bin/browse-edgar?company=discovery+gold&owner=exclude&action=getcompany

note - Cutler did resign in 2017
On February 23, 2017, Mr. Cutler resigned both as a director and as the Chief Financial Officer of the Company. Mr. Cutler confirmed that his resignation was not due to any disagreement with the Company on any matter relating to its operations, policies or practices.

During the period when the company went dark
10-12G
Documents
Registration of securities [Section 12(g)]
Acc-no: 0001079973-18-000434 (34 Act) Size: 725 KB
2018-07-30
000-54709
18976186
15-12G
Documents
Securities registration termination [Section 12(g)]
Acc-no: 0001079973-15-000338 (34 Act) Size: 10 KB
2015-05-01
000-54709
15821700