International Building Technologies Group, Inc.(fka INBG)

[livefree_ordie]

From bathomspson on Raging Bull Boards:

The following debts need to be paid by the end of the Q

In order for the company to be current.

Remember that the average daily volume is 17.5 million shares. Times 60 trading days in the quarter equals 1.050 billion shares.

The debts in this post are still listed in the most recent 10Q as being past due and owing. They represent 1,593,800,000 shares which need to be issued to cover: http://investorshub.advfn.com/boards/read_msg.aspx?message_id=43622453

Now lets look at the shares that will be needed to cover the convertible notes due during the current quarter. From the most recent 10Q: http://moneycentral.msn.com/investor/sec/filing.asp?Symbol=inbg

10% Interest; principal of $104,757; convertible to common
stock based on 75% of average price; due on 12/31/2009, net
of unamortized discounted related to the debt discount of
$30,430 ....$74,327

10% Interest; principal of $11,000; convertible to common
stock based on 75% of average price; due on 10/9/2009, net
of unamortized discount related to the debt discount of $459 ....$10,541

10% Interest; principal of $31,925; convertible to common
stock based on 75% of average price; due on 12/31/2009, net
of unamortized discounted related to the debt discount of $0 ....$31,925

10% Interest; principal of $10,269; convertible to common
stock based on 75% of average price; due on 12/31/2009, net
of unamortized discounted related to the debt discount of
$780 ....$9,489

10% Interest; principal of $12,500; convertible to common
stock based on 75% of average price; due on 12/31/2009, net
of unamortized discount related to the debt discount of
$4170 ....$8,330

10% Interest; principal of $32,017; convertible to common
stock based on 75% of average price; due on 12/31/2009, net
of unamortized discount related to the debt discount of
$10,725 ....$21,292

10% Interest; principal of $40,542; convertible to common
stock based on 75% of average price; due on 12/31/2009, net
of unamortized discounted related to the debt discount of
$15,715 ....$24,827

10% Interest; principal of $10,642; convertible to common
stock based on 75% of average price; due on 12/31/2009, net
of unamortized discount related to the debt discount of
$3,565 ....$7,077

10% Interest; principal of $9,458; convertible to common
stock based on 75% of average price; due on 12/31/2009, net
of unamortized discounted related to the debt discount of
$3,000 ....$6,458

10% Interest; principal of $37,133; convertible to common
stock based on 75% of average price; due on 12/31/2009, net
of unamortized discounted related to the debt discount of
$10,576 ....$26,557

10% Interest; principal of $5,000; convertible to common
stock based on 75% of average price; due on 10/28/2009, net
of unamortized discount related to the debt discount of $595 ....$4,405

10% Interest; principal of $10,000; convertible to common
stock based on 75% of average price; due on 12/31/2009, net
of unamortized discount related to the debt discount of
$3,271 ....$6,729

10% Interest; principal of $7,209; convertible to common
stock based on 75% of average price; due on 12/31/2009, net
of unamortized discounted related to the debt discount of
$2,257 ....$4,952

10% Interest; principal of $23,847; convertible to common
stock based on 75% of average price; due on 12/31/2009, net
of unamortized discounted related to the debt discount of
$7,375 ....$16,472

10% Interest; principal of $20,000; convertible to common
stock based on 75% of average price; due on 12/31/2009, net
of unamortized discount related to the debt discount of
$6,578 ....$13,422

10% Interest; principal of $25,000; convertible to common
stock based on 75% of average price; due on 12/31/2009, net
of unamortized discount related to the debt discount of
$8,181 ....$16,819

10% Interest; principal of $70,000; convertible to common
stock based on 75% of average price; due on 12/31/2009, net
of unamortized discount related to the debt discount of
$22,778 ....$47,222

10% Interest; principal of $36,867; convertible to common
stock based on 75% of average price; due on 12/31/2009, net
of unamortized discounted related to the debt discount of
$10,619 ....$26,248

10% Interest; principal of $10,000; convertible to common
stock based on 75% of average price; due on 12/31/2009, net
of unamortized discount related to the debt discount of
$3,285 ....$6,715

10% Interest; principal of $15,000; convertible to common
stock based on 75% of average price; due on 10/29/2009, net
of unamortized discount related to the debt discount of
$6,369 ....$8,631

10% Interest; principal of $50,240; convertible to common
stock based on 75% of average price; due on 12/31/2009, net
of unamortized discount related to the debt discount of
$16,110 ....$34,130

10% Interest; principal of $50,000; convertible to common
stock based on 75% of average price; due on 12/31/2009, net
of unamortized discount related to the debt discount of
$16,349 ....$33,651

10% Interest; principal of $50,000; convertible to common
stock based on 75% of average price; due on 12/31/2009, net
of unamortized discount related to the debt discount of
$16,349 ....$33,651

10% Interest; principal of $15,000; convertible to common
stock based on 75% of average price; due on 12/31/2009, net
of unamortized discount related to the debt discount of
$4,787 ....$10,213

10% Interest; principal of $10,000; convertible to common
stock based on 75% of average price; due on 12/31/2009, net
of unamortized discount related to the debt discount of
$3,595 ....$6,405

10% Interest; principal of $20,500; convertible to common
stock based on 75% of average price; due on 12/31/2009, net
of unamortized discount related to the debt discount of
$4,871 ....$15,629

Total current debts due in the Quarter...............$506,387

Total additional past due and owing debts due now....$159,380

Grand total of debts due for conversion during this current quarter....$665,767

That represents conversion to 6,657,670,000 shares or three times the current OS.

Even worse, it represents 6.5 times the current average trading volume.

These are actual facts, easily found in the current 10Q from the link provided above.

As this scam ponzi scheme comes unraveled, the company is faced with the typical penny scam problem of the dilution vastly exceeding the trading volume.


What are Yeung's options at this point?