(1) On June 20, 2019, the Company entered into a Stock Exchange Agreement (“Exchange Agreement”) with Beechwood. G. Darcy Klug, the Company’s Chairman of the Board, Interim Chief Executive Officer and Chief Financial Officer, is the sole member and manager of Beechwood. Under the Exchange Agreement, the Company purchased from Beechwood 113,700,000 shares of the Company’s common stock in exchange for 1,277 shares of the Company’s Series A Preferred Stock and a Stock Purchase Warrant (“Warrant”) to acquire 113,508,450 shares of the Company’s common stock at an exercise price of $0.005 per share. The Warrant expires June 20, 2029.
THIS TRANSACTION LOOKS SUSPICIOUS - OUR BOYS AND GIRLS ARE DIGGING IN HARD HERE . They have never seen anything like this ever before. Many questions
