Can you show me where/how Doug and Kent "purchased" this shell? The old President resigned and then Doug and Kent were elected new officers but by whom? Themselves and Paul Thompson?
And yes, for all intents and purposes this is a new company, new management and all cashflows and debts inherited are from the former company and management.
Paul K. Thompson was was a Director and President of Timeshare Loans since 2005.
Paul Thompson was the CEO of Timeshare Holdings on 8 Aug 2008.
Paul Thomspson IS NOT NEW and this is NOT A NEW COMPANY.
Paul K. Thompson were appointed to the BOD of TMSH on 30 Nov. 2010. Paul Thompson, Vice President Investor Relations.
The Company has issued Promissory Notes to corporate officers, directors and investors that are also shareholders of Timeshare Holdings, Inc. The Notes bear interest at rates of 0% and are due on November 12, 2011 with a one year roll over upon payment of 10% of the balance due. The notes are secured with stock shares of the Company that would be issued in case of default. The combined amount of the notes equals $727,526.
They are really going to have to get the price of TMSH up there to pay off this debt of $727,526 with shares.
Agsin - How many shares do Doug and Kent own? How did they get them?
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