AI
Saturday, August 13, 2022 6:19:20 PM
DSCR & The Illegal Increase of Authorized Capital June 2018
In June of 2018 DSCR was a Nevada Corporation, who has run up to their 5,000,000,000 Common Authorized Capital. With 0 revenue (last 11 years) the only mechanism they had of raising money was the conversion of their $300,000 convertible preferred shares.
Without notice, approval or disclosure DSCR lied to the Wyoming Secretary of State in increasing the common stock authorized capital from 5,000,000,000 to 10,000,000,000.
Only problem is DSCR had more than one class of stock outstanding, stock, thus invalidating its ability to increase authorized capital under WY Statute 17-16-1005,
Source: https://codes.findlaw.com/wy/title-17-corporations-partnerships-and-associations/wy-st-sect-17-16-1005.html
The legal way to due this increase was to notify the shareholders via a proxy and vote on the amendment as prescribed by WY 17-16-1003
Source: https://codes.findlaw.com/wy/title-17-corporations-partnerships-and-associations/wy-st-sect-17-16-1003.html
Here is the evidence to support the illegal increase of DSCR from 5,000,000,000 to 10,000,000,000
Source:
https://www.otcmarkets.com/otcapi/company/financial-report/199645/content
Source:
https://www.otcmarkets.com/otcapi/company/financial-report/211791/content
In June of 2018 DSCR was a Nevada Corporation, who has run up to their 5,000,000,000 Common Authorized Capital. With 0 revenue (last 11 years) the only mechanism they had of raising money was the conversion of their $300,000 convertible preferred shares.
Without notice, approval or disclosure DSCR lied to the Wyoming Secretary of State in increasing the common stock authorized capital from 5,000,000,000 to 10,000,000,000.
Only problem is DSCR had more than one class of stock outstanding, stock, thus invalidating its ability to increase authorized capital under WY Statute 17-16-1005,
Source: https://codes.findlaw.com/wy/title-17-corporations-partnerships-and-associations/wy-st-sect-17-16-1005.html
The legal way to due this increase was to notify the shareholders via a proxy and vote on the amendment as prescribed by WY 17-16-1003
Source: https://codes.findlaw.com/wy/title-17-corporations-partnerships-and-associations/wy-st-sect-17-16-1003.html
Here is the evidence to support the illegal increase of DSCR from 5,000,000,000 to 10,000,000,000
Source:
https://www.otcmarkets.com/otcapi/company/financial-report/199645/content
Source:
https://www.otcmarkets.com/otcapi/company/financial-report/211791/content
