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Re: Buttercup5 post# 60470

Sunday, 08/02/2020 3:27:06 PM

Sunday, August 02, 2020 3:27:06 PM

Post# of 81828
It went up big last year and has been in the 900,000's since last year. They do have 2 billion authorized. I am more concerned about this. "As of March 31, 2020, the Company had cash of $99,246, a working capital deficit of $991,397 and an accumulated deficit of $7,052,616."

"At March 31, 2020, including accrued but unpaid dividends, there were potentially 205,846,071 shares of common stock issuable upon the conversion of our outstanding Series A Preferred Stock and, including accrued but unpaid dividends, there were potentially 122,796,364 shares of common stock issuable upon the conversion of our outstanding Series B Preferred Stock. The shares of common stock to be issued upon conversion of the warrants and the shares issuable from the conversion of the notes and the Series A and Series B Preferred stock have been excluded from earnings per share calculations because these shares are anti-dilutive."

"
During the fiscal year ended June 30, 2019, certain members of the board of directors and stockholders of the Company made $242,000 in interest free advances to the Company. The advances are convertible into shares of the Company’s common stock at rates ranging from $0.0024 to $0.0050 or 75,916,667 shares of common stock. During the quarter ended December 31, 2019, the Company received notice from the holders of $142,000 of these related parties of their intent to exercise their right to convert their advances into 55,916,667 shares of common stock. The conversion should be completed subsequent to the year ending June 30, 2020."

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