1812 Brewing Company Inc (KEGS)

[Howyadoing]

"he also bought back/retired shares in anticipation of legacy debt"
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You need to get your facts straight!

It was not a buy back , it was nothing more than a share swap game that Tom & KK set up before the shell takeover of GSCR

Before the take over :
1) KK converts 78,250 shares of Series B Preferred Stock into 322,234,884 common shares of GSCR ( leaving 21,750 preferred B's)

2) KK makes back room deals with Tom to save his bankrupt company and for him to take on the GSCR shell with all of the hidden conversions and debt

3) Tom says OK and decides to save his own bankrupt company (Wisebuys) and takes over the shell.

4) Tom reconverts KK's 322,234,884 common shares back into Preferred B shares , bring the preferred B total back to 100,000 shares

5)While it appeared to lower the float , it really didn't in the end , because since then Tom has changed the conversion rate on the Preferred B shares
Since his Preferred B shares represent an 80% ownership , that would mean that if he were to flip those same 78,250 Preferred B's back into commons today , the new O/S would be around 4 BILLION SHARES
And that would still leave him with the 21,750 Preferred B's that he originaly stared with!

And that my friends - Is the rest of the story !!!