Auscrete Corporation (ASCK)

[piker86]

They applied for a reverse split of 1 to 40 last month.

They filed with the state of Wyoming, Jan 8 was the submit date, Jan 20 was the day it was posted in the Wyoming system. Its under the History section on their Wyoming web page

https://wyobiz.wyo.gov/Business/FilingDetails.aspx?eFNum=192197097221083239149058095160128130035211026112

They released an 8-k on the reverse split on Jan 25th, saying they expect the split to be executed in the next two to three weeks. But it hasn't happened yet, and the split is not on any split calendar that I can find.

They have followed the past two reverse splits with 50 million share payments to themselves, that took away 80 to 90% of the share ownership of the company from the stockholders and gave it back to themselves.

That is what I think they are planning to do again. They can still do it, even without a reverse split, but they will need to issue themselves about 700 million shares if they want to take back 80% ownership of the company, or about 1.4 billion shares if they want to take back 90%. There are about 150 million shares O/S right now.

Issuing themselves that much stock will be more obvious fraud, as opposed to just giving themselves 50 million shares. That is why they do the reverse splits first, to get the share count down under 10 million, so the 50 million they issue to themselves "for services rendered" doesn't look outrageous, and gives them back about 90% share ownership of the company, at the expense of existing stockholders