Houmu Holdings Ltd (HOMU)

[catar]

This is just my opinion but, after reading a lot, I've concluded that this is as a very simple situation and almost certain that the float will end up being quite low.
Here is the explanation... (thank you to everyone who shared information, particularly noob)
1- The common shares issued in excess and later incorporated to the authorized shares by David Lazar were due to negative shareholders equity.
2- The shareholders equity was negative because there was a liability (a debt) of over 8 million dollars in the books. In other words, according to the books, the company owed that money to one or more people or entities (i.e. a bank).
3- To me, it is highly possible, if not certain, that the debt (the liability) was fraudulent. It was an unfounded debt that nobody can claim.
4- As part of making XMET a clean shell, at the time David Lazar had no option but to incorporate those shares issued in excess to the authorized shares until the debt was proven fraudulent or barred as an unasserted claim.
5- That will happen on Feb 1st and then the debt will be taken off the books bringing the shareholders equity to a positive of over 8 million dollars.
6- With that positive shareholders equity, the common shares issued in excess can be canceled bringing the float to about 800 million common shares.