Majic Wheels Corp (MJWL)

[Perfectson]

got finished reading the acquisition memo

https://www.sec.gov/Archives/edgar/data/1846809/000110465922120852/tm2230791d1_ex2-1.htm

section 4.3 spells out MJWL capitalization

1) they have doubled their outstanding shares from 1.9 billion to 3.8 billion. Which means someone converted their preferred shares (probably Chong since he had done so previously)

2) they still have about 3.7m in convertible preferred shares at a 5,000 to 1 ratio that's about 18 billion to 19 billion of outstanding common stock potential - many of which will be eligible to be converted.

3) MJWL is diluting right on top of existing share holders - all of this has not be announced and since the CE they haven't dropped any financials this year. So all of this has been hidden in the dark.