I`m not sure you have it right it appears from the filing Mike paid the 77k for the 8.9M shares at a price of .0086cents. That math works except John missed a decimal place on the filing and entered .086 cents. The problem here, as it seems very clear that transaction occured, Mike never reporting owning those shares, so the SEC should investigate. The matter of Mike taking advantage of John and not paying for the shell is another matter.
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