Tuesday, December 12, 2023 11:48:53 AM
That is to be done by Share sales.
Take Average price $.009, divide into $6.4 Millon = 711,111,111 Shares to sell to collect that Settlement
6.4 Million Settlement DEBT
https://www.otcmarkets.com/otcapi/company/financial-report/382833/content
Last Qrt they paid twards it:
Page 36
For the quarter ended May 31, 2023, the Company issued 3,400,000 shares for the settlement of $88,400
settlement payable.
Original Debt when it 1st started being owned:
Page 39 & 40
On January 20, 2021, the Company entered into a purchase agreement with Northern California
Holdings, Inc, (“Northern”) for a real property located in Lake County, California owned by its
subsidiary, Mount Fire 29 Corp for $3,500,000. The Company will pay Northern $250,000 in
cash within 10 days; $350,000 in cash within 20 days, and $2,900,000 in cash within 90 days.
The Company has not paid any of the amounts according to the Northern purchase agreement.
On May 4, 2021, the court ordered the Company to deliver its common shares pursuant to Section
3(a)(10) of the Securities Act of 1933 until Northern’s total gross sales of the Company’s stock
equal to $6,448,333 in full settlement of the claims. For the quarter ended May 31, 2021 with, the
Company issued 1,700,000 shares of its common stock. The issuance was upon Section 3(a)10
of the Securities Act of 1933, which by the court order on May 4, 2021 as an escrow shares. None
of the escrow shares has been sold to settle the total balance of $6,448,333.
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