Did you read the 8-K? Guess not. Because it's funny how Scenic Marketing Group all of a sudden held $200,000 of WTCT's debt. We'll wipe that out and give you 400,000 preferred shares. Let's see, who owns Scenic Marketing Group? Anyone, anyone. Oh, yes, FM and gang. Looks to me like another bogus invoice for billings to the company he is CEO of and going to pay his actual company off with shares. Sounds faintly familiar to me. Also, that makes me pretty suspicious of the other two companies that are now subsidiaries of WTCT. Where they also companies of Scenic Marketing Group or Bad Apple? Who's to say. Here is the PR.
Form 8-K for WATCHIT TECHNOLOGIES INC.
--------------------------------------------------------------------------------
28-Sep-2007
Completion of Acquisition or Disposition of Assets
ITEM 2.01 COMPLETION OF ACQUISITION OR DISPOSITION OF ASSETS.
Effective August 22, 2007, the registrant entered into an agreement to acquire all of the Membership Interest owned by the members, licensing rights, intellectual properties, and software assets of Digital Fusion Television, LLC., making Digital Fusion Television, LLC, a wholly owned subsidiary of WatchIt Technologies, Inc., in exchange for Eight Hundred Thousand (800,000) shares of Series A Preferred stock in WatchIt Technologies, Inc. These Series A Preferred shares shall be subject to restrictions under the Securities Act of 1933. The registrant's Board of Directors approved this acquisition on September 28, 2007. This agreement shall close no later than September 30, 2007, and is attached as an Exhibit.
Effective August 22, 2007, the registrant entered into an agreement to acquire all of the Common Stock owned by the Shareholders of BMA Partners, LLC, making BMA Partners, LLC, a wholly owned subsidiary of WatchIt Technologies, Inc., in exchange for Eight Hundred Thousand (800,000) shares of Series A Preferred stock in WatchIt Technologies, Inc. These Series A Preferred shares shall be subject to restrictions under the Securities Act of 1933. The registrant's Board of Directors approved this acquisition on September 28, 2007. This agreement shall close no later than September 30, 2007, and is attached as an Exhibit.
Effective September 28, 2007, the registrant entered into an agreement whereby Scenic Marketing Group, LLC. will retire $200,000. in debt in exchange for Four Hundred Thousand (400,000) shares of Series A Preferred stock in WatchIt Technologies, Inc. These Series A Preferred shares shall be subject to restrictions under the Securities Act of 1933. The registrant's Board of Directors approved this action on September 28, 2007.
ITEM 9.01 EXHIBITS
Exhibit No. Description
----------- -----------
9.1 Acquisition Agreement between Digital Fusion Television, LLC
and WatchIt Technologies, Inc.
9.2 Acquisition Agreement between BMA Partners, LLC and WatchIt
Technologies, Inc.
"To Give Anything Less Than Your Best, Is To Sacrifice the Gift." - Steve Prefontaine
