Monday, April 26, 2021 3:31:25 PM
On July 6, 2020, the Company acquired the assets and liabilities of RCK Development LLC in a merger agreement whereby Community Redevelopment Inc is the surviving entity. To effect this merger, the Company has issued restricted Treasury stock representing 2,250,000,000 (pre-split) common shares. Additionally, the Company issued 125,000,000 (pre-split) common shares, converting 100% of the shareholder advances of a prior stockholder of $745,180, eradicating this debt from the books. For various reasons, said issuance was delayed until February, 2021 and has now taken place, as such full consideration has been given from the Acquiring public company. Additionally, the company is planning a reverse split in the immediate future of 100:1, as such the amounts of shares issued were at a post-split amount, placing the parties in the same pro-rata position as indicated in the Agreement between them. The current issued and outstanding of the Company is now 2,495,499,668.
On February 11, 2021, the Company raised its Authorized stock to 3 Billion shares, no preferred having been created nor issued. As of the date of filing this Amended Registration Statement, 2,495,499,668 shares of Common Stock and zero shares of Preferred Stock were issued and outstanding.
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