Thursday, May 12, 2011 3:06:45 AM
In one respect you are absolutely correct in your statement. As, I said before in the middle lies the truth.
Okay their was a vote okay to increase the A/S to make all issues of debt go bye bye for the sake of the initial merger the plan which included a total of $920,000.00 equal to almost 1.1bil shares to a vested 3rd party because Centacom was not paying cash for the shell, and quite frankly why would they, of that 920K approximately $500K was to go back into the company for operating purposes. The preferred "A" came with the deal which would given Centacom controlling interest of all 50mil preferred "A"shares. The process would have taken almost 12months to satisfy which would have giving the merging company a chance to rebound the company and realize quarterly profits.
This Sir was an agreed upon plan by both parties until Dean started inquiring about more money and a 900k tax liability, which in turn shelfed the whole deal.
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