Futuris Company (FTRS)

[HATTER]

From the filings:

“On May 26, 2020, as a result of two private transactions, 1 share of Series A-1 Preferred Stock and 1 share of Series F Preferred Stock (together, the “Shares”) of the Company, were transferred from Synergy Management Group, LLC to Naveen Doki and Silvija Valleru, respectively (together, the “Purchasers”). As a result, the Purchasers became the majority holder of the voting rights of the issued and outstanding share capital of the Company on a fully-diluted basis of the Company, and Naveen Doki became the controlling shareholder. The consideration paid for the Shares was $40,000. The source of the cash consideration for the Shares was personal funds of the Purchasers. In connection with the transaction, Synergy Management Group, LLC and Ben Berry released the Company from all debts owed to them.
On July 31, the Company effected a 1:3 reverse split of its issued and outstanding common stock.”

And how often do you see a non-interest bearing, non convertible loan in the OTC??

“Long Term Interest Free Loan
The Company has a Long Term Interest Free Loan from the majority shareholder Naveen Doki for $2,016,063 as at October 31, 2020. There is no fixed tenure for repayment of the loan.”