WiFi TV Inc. (WIFT)

[al44]

Camguy FYI re- Swedish Vegas and WTVN connection


from the 2007 annual:
PG 12 item #5

On February 5, 2008, the authorized number of shares of common stock was amended to be 400,000,000 shares, and 2,000,000 share of preferred stock were authorized.
In 2008 all $22,240 of the convertible debt was converted into 202,240,000shares of common stock.

According to pg 9 of this document-
http://www.pinksheets.com/otciq/ajax/showFinancialReportById.pdf?id=15057
Alex Kanakaris owns 88.17% of the company.

So where do you think the money came from to restructure the convertible? How many shares of WTVN were dumped to give Alex the money to finance this operation that has no income and $6 million in debt already? How long before the authorized is raised to 30 billion? Shouldn't we be calling it SwedishVegasTVN? LOL

Keep an eye on it. I suspect Colby may be pushing it if called.

........al