Ultimate Franchise Systems, Inc. (ULFS): Post Unavailable Additional Informati...

StopShellPirates · 2010-04-27T17:11:27.9430000Z

The Order doesn't allow them to issue shares because all of the authorized shares were issued. They only way they could issue shares would be if they shareholders voted by written consent or at a meeting to amend the articles of incorporation to increase authorized shares. They have one controlling shareholder and he is the only person who can control the vote to amend the articles of incorporation. The Order also does not allow them to issue shares to themself or in connection with a reverse merger. Did anyone notice the five companies suspended by the SEC on April 23, 2010, all were Mina Mar shells? I put the names in google and Mina Mar was involved with each one. What do you think this means?