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Sunday, August 01, 2021 9:08:16 AM
The filings show the following:
Class B holdings by Officers and insiders are 115,150 out of 150,000 issued and outstanding. Who holds the other 34,850 shares?
The shares convert to 1.5 billion shares.
Class C holdings by Officers and insiders are 191,278 out of 250,000 issued and outstanding. Who holds the other 58,772 shares?
The shares convert to 16,500,000 shares.
Class D holdings by Officers and insiders are 4,000,000 out of 6,350,000 issued and outstanding. Who holds the other 34,850 shares?
The shares convert to 95,250,000 shares.
Class E holdings by Officers and insiders are 4,478,400 out of 14,989,500 issued and outstanding. Who holds the other 10,511,100 shares?
The shares convert to 10,511,100 shares.
There are approximately 12 million convertible shares who are not identified. Joseph Wade Mezey and his family is a good guess.
![](http://investorshub.advfn.com/uimage/uploads/2021/7/31/mkoqmnhmd.jpg)
Series B Preferred Stock
The Company is authorized to issue 150,000 shares of Series B Preferred Stock at a par value of $0.0001. The Series B Preferred Stock shall have no liquidation preference over any other class of stock and there will be no dividends due or payable on the Series B Preferred Stock. The Series B Preferred Stock converts into common stock at a ratio of 1:1,000. However, the Series B Preferred Stock may not be converted for a period of 12 months from the date of issue.
There were no issuances of the Series B Preferred Stock during the years ended May 31, 2021 and 2020.
As of May 31, 2021 and 2020, 150,000 shares of Series B Preferred Stock were issued and outstanding.
Series C Preferred Stock
The Company is authorized to issue 250,000 shares of Series C Preferred Stock at a par value of $1. The Series C Preferred Stock shall have no liquidation preference over any other class of stock and there will be no dividends due or payable on the Series C Preferred Stock. The Preferred Stock can be converted to common stock, at a conversion rate of 66 common shares for each preferred stock.
There were no issuances of the Series C Preferred Stock during the years ended May 31, 2021 and 2020.
As of May 31, 2021 and 2020, 250,000 shares of Series C Preferred Stock were issued and outstanding.
Series D Convertible Preferred Stock
The Company is authorized to issue 10,000,000 shares of Series D Preferred Stock at a par value of $0.0001. The Series D Preferred Stock shall have no liquidation preference over any other class of stock and there will be no dividends due or payable on the Series D Preferred Stock. Beginning January 1, 2017, each holder of shares of Series D Preferred Stock may, at any time and from time to time, convert each of its shares of Series D Preferred Stock into a 15 of fully paid and nonassessable shares of common stock.
There were no issuances of the Series D Preferred Stock during the years ended May 31, 2021 and 2020.
As of May 31, 2021 and 2020, 6,350,000 shares of Series D Preferred Stock were issued and outstanding, respectively.
Series E Preferred Stock
The Company is authorized to issue 15,000,000 shares of series E Preferred Stock at a par value of $0.0001. The Series E Preferred Stock shall have no liquidation preference over any other class of stock and there will be no dividends due or payable on the Series E Convertible Preferred Stock. Beginning October 1, 2016, each share of Series E Preferred Stock is convertible into ten (10) shares of common stock. From October 1, 2016 to October 1, 2018, holders of Series E Preferred Stock may at any time convert to shares of common stock, thereafter, the Company may elect to convert any outstanding stock at any time without notice to the shareholders. The Company evaluated the conversion feature and concluded that it did not qualify as a derivative transaction. The Company evaluated the convertible preferred stock under FASB ACS 470-20-30 and determined it does not contain a beneficial conversion feature.
There were no issuances of the Series E Preferred Stock during the years ended May 31, 2021 and 2020.
As of May 31, 2021 and 2020, 14,989,500 shares of Series E Preferred Stock were issued and outstanding, respectively.
https://www.otcmarkets.com/filing/html?id=15118885&guid=Ekk1k65Tb1BPtth
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