GNCC Capital Inc (GNCP)

[ctrumabll]

Found Two More Lumb Companies!

Found this in the morass of the June, 2019 Report and its 289 pages

https://www.otcmarkets.com/financialReportViewer?id=225256

Page 98, note 257:

NOTE 257:-
This Preferred Shareholders elected to capitalize their Annual Dividend of $0.05 per share of Series “X”
Convertible Preferred Stock; this being through the issuance of additional shares of Series “X” Preferred Stock
and at a price of $1.00 per share. This was effected on June 26, 2019 being the first anniversary of the issuance
of these shares of Convertible Series “X” Preferred Stock on June 26, 2018. We are advised that the Beneficial
Ownership of these shares of Preferred Stock held by this Shareholder Company are ultimately held by a Family
Trust. As at May 29, 2019, The Trustee, Mr. Stephen Lumb exercises the power as the Trustee to deal with these
shares of Preferred Stock as he deems fit. The beneficiaries of this Trust do not have the authority to deal on
behalf of this Shareholder Company nor of the Trust. These shares of unquoted Preferred Stock are Non-Voting
and are held as a passive investment. These shares of Preferred Stock are not eligible to be converted into shares
of Common Stock prior to June 26, 2020. This Shareholder indirectly holds no voting shares of GNCC as at July
14, 2019. This Shareholder Company has had no dealings with GNCC since September of 2010. This is an
overseas entity with no USA ownership. It is noted that Mr. Lumb has advised the Board of GNCC that this
Shareholder Company was intending to dispose of all of these shares of Preferred Stock in an “off market”
transaction due to their desire to divest themselves of all interests in the Microcap Sector.

This refers to Neutral Bay Investments, SA

Page 99, note 262:

NOTE 262:-
This Preferred Shareholders elected to capitalize their Annual Dividend of $0.05 per share of Series “X”
Convertible Preferred Stock; this being through the issuance of additional shares of Series “X” Preferred Stock
and at a price of $1.00 per share. This was effected on June 26, 2019 being the first anniversary of the issuance
of these shares of Convertible Series “X” Preferred Stock on June 26, 2018. We are advised that the Beneficial
Ownership of these shares of Preferred Stock held by this Shareholder Company are ultimately held by a Family
Trust. As at May 29, 2019, The Trustee, Mr. Alan Santini exercises the power as the Trustee to deal with these
shares of Preferred Stock as he deems fit. The beneficiaries of this Trust do not have the authority to deal on
behalf of this Shareholder Company nor of the Trust. These shares of unquoted Preferred Stock are Non-Voting
and are held as a passive investment. These shares of Preferred Stock are not eligible to be converted into shares
of Common Stock prior to June 26, 2020. This Shareholder holds no voting shares of GNCC as at May 29, 2019.
This is an overseas entity with no USA ownership. It is noted that Mr. Santini has advised the Board of GNCC
that this Shareholder Company was intending to dispose of all of these shares of Preferred Stock in an “off market”
transaction due to their desire to divest themselves of all interests in the Microcap Sector.

Good old Alan Santini is back! And running Trident Asset Management Corp.