Fuse Science Inc (DROP)

[davidsamuel]

This is great news for shareholders. No, it's not 640K but 6.4M. No, this form does not say that Mr. Zacharin is selling anything right now. This is an Initial Statement of Ownership. From the 8k dated March 25th he was given a signing bonus of 6.4M shares along with a salary of up to $18K per month subject to the company having sufficient funds. From the recent Schedule 14F1 it says that as of April 6th there is 59,379,493 shares outstanding, and that Mr. Zacharin's 6.4M shares is included in that amount even though they have not been issued yet but that the company was committed to doing so. According to that filing we are in the middle of a 10 day waiting period which is required for the agreement to take affect. The company is just honoring their commitment to issue Mr. Zacharin his signing bonus shares as agreed to in March.

Thanks for posting this. This is good news as it tells me that the company is, in fact, moving towards completing the merger agreement in which all shares are accounted for. :)