Sollensys Corp. (SOLS)

[MU_Redskin1]

Something STINKS! The recent 10Q shows 99,193,962 shares issued and outstanding on the last sentence cover page and in Note 5.
https://ih.advfn.com/stock-market/USOTC/sollensys-pk-SOLSD/stock-news/83642308/quarterly-report-10-q

What about this? https://www.otcmarkets.com/stock/SOLSD/security

The Sollensys.com IR website shows 4,183,962 shares outstanding. Big discrepancy trying to fool potential shareholders? Something STINKS!

https://sollensys.com/sollensys-investor-relations/

Market Cap 23.01 million
Shares Outstanding 4.18 million
EPS (TTM) N/A
P/E Ratio (TTM) N/A
Bid / Ask 0.00 / 0.00
Bid / Ask Size 0 X 0


NOTE 5 – STOCKHOLDERS’ EQUITY

Series A Preferred Stock

On March 21, 2020, the Company filed a Certificate of Designation to authorize 25,000,000 shares of Series A preferred stock at a par value of $0.001. Among other rights, the holders of Series A preferred stock have the right to convert each share of Series A preferred stock into 50 shares of common stock. On April 1, 2020, the Company issued 19,000,000 shares of Series A preferred stock to the Company’s Chief Executive Officer, David Lazar. The fair value of the issuance was estimated at $1,900,000 and recorded as stock-based compensation.

Common Stock

The Company has authorized 300,000,000 shares of $0.001 common stock. As of September 30, 2020, and March 31, 2020, respectively, there were 4,183,962 shares of common stock issued and outstanding. These shares represent the 1 for 120 stock split that became effective on November 2, 2020

NOTE 6 – SUBSEQUENT EVENTS

On October 13, 2020, Eagle, the owner of 100% of the issued and outstanding shares of the Company’s Series A preferred stock converted its 19,000,000 shares of Series A preferred stock into shares of the Company’s common stock, resulting in the issuance to Eagle of 11,400,000,000 shares of common stock and resulting in Eagle holding approximately 95.8% of the Company’s issued and outstanding common stock.

On October 14, 2020, the Company filed with the Secretary of State of Nevada a Certificate of Amendment to its Articles of Incorporation (the “Amendment”) to effect a 1-for-120 reverse stock split (the “Reverse Split”) of the Company’s issued and outstanding common stock, par value $0.001 per share (“Common Stock”). Pursuant to the Amendment, effective as of October 30, 2020, every one hundred and twenty (120) shares of the issued and outstanding Common Stock will be converted into one share of Common Stock, without any change in the par value per share.

The 1 for 120 Reverse Split became effective on November 2, 2020. Following the effectiveness of the Reverse Split, on November 2, 2020, the number of authorized shares of common stock was reduced from 12,000,000,000 shares to 300,000,000. Additionally, following the Reverse Split, Eagle’s 11,400,000,000 common shares was adjusted to 95,000,000 shares and they continued to maintain 95.8% of the total of 99,193,962 common shares outstanding.

So do you value the company on the total OS both restricted and unrestricted? 99,193,962
https://www.otcmarkets.com/stock/SOLSD/security

Or issued and outstanding? 4,183,962

What gives DON! ?

Red