Thursday, March 24, 2022 6:03:55 PM
There are 20 million shares of convertible Preferred Series A Stock with a liquidation value of $1.00 which could account for much of it. I assume that these shares and the controlling interest that it represents is held by the CEO? This guy is in a great position considering that he also has 30% ownership of the SBQ entity. It will take quite a while for this company to grow into the equity stake that the CEO is claiming.
While questioning line items directly from the filing and presenting them for debate may be negatively viewed depending on your status as a shareholder, it certainly doesn't violate the terms or the intended spirit of this forum.
For the Period Ending: December 31, 2021
https://www.otcmarkets.com/otcapi/company/financial-report/320380/content
CONSOLIDATIONS
Masterbeat Corporation owns 70% of its subsidiary SBQ, LLC. The remaining 30% is owned by its current Chief Executive Officer.
2021 Annual filing
https://www.otcmarkets.com/otcapi/company/financial-report/320381/content
NOTE 8- EQUITY
At the end of the period represented by this disclosure document, the Company is authorized to issue 25,000,000 shares of $0.001 par value Preferred Stock, of which, 20,000,000 shares of $0.0001 par value convertible Preferred Series A stock are designated and issued. Each share of convertible Preferred Series A Stock is convertible into 10 shares of common stock, has 100 votes, has no dividend rights except as may be declared by the Board of Directors, and has a liquidation preference of $1.00 per share.
Everything that I post is just my informed opinion and is simply an invitation to debate. Trade on your own due diligence please..
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