I received a detailed reply from Jeffrey after I emailed him and told him I was concerned about the share addition. I’m going to copy and paste his answer- hope it helps explain to people the move he made. His reply made me feel better and I feel confident this stock will go much higher this year.
This is from Jeffrey DeNunzio-
For IALS 405,516,588 restricted common shares were issued to an affiliate I control (see website) and for KAVL and NXMH, predecessor of each entity (at which time we had been affiliated) a similar quantity of stock was also issued. Such past issuances for KAVL and NXMH can be corroborated by the SEC filings. At this point however, we have no affiliation with KAVL or NXMH. We also own no shares in either at this juncture.
I cannot in any capacity share any speculative plans regarding IALS, SENY or any of our other active custodial projects, but I can discuss past projects as we now have no affiliation with them.
In the case of KAVL and NXMH, if there was ever going to be a successor operating company or group to take over either company a control block of shares needed to be issued to an affiliate entity of ours, otherwise there would be nothing for us to have offered a new control group, who would likely be bringing with them an operating company (or some assets) into the 'shell company', in turn resulting in a likelihood of increased value. No one with a viable business, a great idea, or any significant assets would ever be interested in owning a company they had no control over. I should reiterate however, with KAVL and NXMH that neither control group, upon us selling our interest to them, had or have any legal obligations to insert any assets of any kind.
AWGI is in an earlier stage of clean up and I can not share any tentative or speculative plans at present that are not already disclosed on the website or within court documents. The same goes for any of our other active custodial entities including, but not limited to SENY or IALS.
Hope this helps give some clarity.
Thanks,
Jeffrey DeNunzio
