It was 3B months ago, then there was an AS reduction that showed 250M at OTC Markets, and now it's back to 3B. But I do think it's a mistake, as NVSOS shows 250M.
All that said, the more I think about it, the more this looks like about the worst merger deal imaginable.
1) American Heritage Investment Capital bought the control bloc of CCWF.
2) CCWF, which American Heritage controls, bought American Heritage's "assets" they'd self-valued at $60M for a $57M (principal amount) convertible promissory note. There's no mention of conversion terms or interest rates.
3) These so-called assets are in the form of "its interest in certain oil and gas Leasehold, which are all located in Oklahoma and Arkansas." There's no evidence this is an accurate valuation, or whether it refers to the alleged value of oil theoretically extracted from these leaseholds before or after the expense of extraction.
4) There's no suggestion and certainly no guarantee a drop of oil will ever be extracted.
Overall, they traded their own self-valued leases which they claim may be worth $60M for a $57M note (probably earning them interest), and left CCWF with $57M in convertible debt that the company is obliged to pay to the owners of CCWF, aka American Heritage Capital. The deal is totally self-serving and incestuous. It's probably the worst merger deal I've ever seen in the OTCs. It's worse than the fake mergers you see all the time in the pink sheets, because those usually take years to amass a couple million in convertible debt. This one is starting out drowning in insurmountable, unfathomably enormous convertible debt.
All that said, nice low float for now - I can't find anything else good about this stock.
Just my opinion, but I think it's a total dud.
I never give buy/sell/hold recommendations or financial advice. Be careful with your investment dollars, especially in the pink sheets.
