I can tell you where all of these shares are coming from!
Due to related party 9,001,519
Conversion of preferred stock - - - - 3 4,286 3 - - 3 4,289
Balance, January 1, 2009 - - - - 1 0 0 7,561,496 (5,310,871) 2,250,635
CASH FLOW FROM FINANCING ACTIVITIES:
Repayments of long term debt 113,288
Proceeds from convertible debentures 70,000
Payments on convertible debentures -
Cash Provided by Financing Activities 183,288
Common Stock – five billion (5,000,000,000) shares of $0.0001 par value Common
shares, of which approximately 2,785,843,033 are issued and outstanding;
Series A Preferred Stock – fifty million (50,000,000) shares of Series A Preferred Stock,
no par value, with one (1) share issued and outstanding; and
Series B Preferred Stock – one hundred thousand (100,000) shares of Series B Preferred
Stock, par value $0.0001, with 100,000 shares issued and outstanding.
Long term debt, net of current 1 37,288 155,765
Convertible Debentures 6 88,059 688,059
Other Liabilities 3 4,837 63,144
Due to related party 9 ,001,519 8,689,213
On April 29, 2009, the company issued Gouverneur Auto Parts and Supply, Inc. an 8% convertible debenture in principal amount for $12,500 due April 1, 2012 for $12,500 in cash proceeds. This note was repaid in full. (Isn't this Tom's Daddy - and probably gets the shares at 50% discount?)
On April 29, 2009, the company issued Massena Auto Parts Co., Inc. an 8% convertible debenture in principal amount for $12,500 due April 1, 2012 for $12,500 in cash proceeds. (Another auto parts deal as he can't get real financing)
On June 1, 2009, the company issued Gouverneur Auto Parts and Supply, Inc. an 8% convertible debenture in principal amount for $10,000 due May 31, 2012 for $10,000 in cash proceeds (And another one for ole Daddy).
As of September 30, 2010, the Company has generated revenues of $1.2 million but has incurred a net loss of approximately $1.2 million and an accumulated deficit of over $25 million. (This DOES NOT even consider the tens of millions of dollars stolen from his shareholders and backdoored to both himself and his fellow penny stock CEO buddies ).
All of those that buy shares from this guy after reading this deserve to lose your money!
