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Bill Hodson hasn't been replaced with a new

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Jason Coombs Member Profile
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Jason Coombs   Friday, 09/25/20 01:36:31 PM
Re: luvhuntin post# 6038
Post # of 6229 
Bill Hodson hasn't been replaced with a new Board yet, which as you know requires a shareholder meeting and a new election.


The Preferred shares which were going to become his, assuming he had done the job of keeping ADIA active and finished the spin-off of Homeland Forensics, Inc., never were transferred to him. We have arranged for them to be transferred back to me based on my repurchase agreement from 2011.


"Jason Coombs holds a right of repurchase for the 10,000,000 Preferred shares if the Preferred are not redeemed by the company from the current Preferred shareholder prior to September 22, 2011"

The work I have been doing since PIVX to build a platform for open source forensics and peer-to-peer cybersecurity networking now has the advantage of being launched in a world where people understand the intrinsic value of decentralized P2P inventions, thanks to Satoshi Nakamoto and the emerging cryptocurrency industry.

From my perspective, at this moment the details of what I'm ready now to launch are less important than the fact it has been worked on by me and the subsidiaries of ADIA without interruption (and without reporting burdens or a requirement for new capital that would have diluted the existing ADIA shareholders) since 2011.


My long-term turnaround plan from the beginning when I agreed to become CEO/Chairman of PIVX in 2006 was to accomplish the turnaround of PIVX/ADIA without substantial dilution to the shareholders. In over 14 years this strategy has resulted in only ~20,000,000 new shares being issued out of the 100,000,0000 authorized.


There were several administrative barriers to concluding the transfer of the Preferred shares back to me while the corporation is still in Revoked status in Nevada, but those have been sorted and I have confirmed that the transfer agent is ready to complete the transfer when they receive the Stock Transfer paperwork with the required Medallion signature stamp. Details here:


I will file a Form 4 with the SEC when this process is complete.

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