I need a little help clarifying the numbers:
We (IHUB posters) collectively own 68% (according a previous poster)
or 2,040,000,000 shares
Cornucopia (see below) owns 533,333,200 shares with a warrant to purchase up to 800,000,000 shares
It seems we are in terrific shape, nobody is selling! No where to go but UP! GO TADF!
On April 1, 2011, Tactical Air Defense Services, Inc. (the “Company”) entered into a binding letter of intent (the “LOI”) with
Cornucopia, Ltd. (“Cornucopia”) in connection with a proposed financing arrangement. A copy of the LOI has been attached as an
exhibit to this Form 8-K, the terms of which are hereby incorporated by reference.
Pursuant to the terms of the LOI and subject to further negotiation and final agreements and documentation (the “Definitive
Agreements”), Cornucopia has agreed to provide the Company up to One Million Dollars (US$1,000,000) in financing as follows:
a. Initial Financing Terms. Cornucopia shall provide an initial financing of Four Hundred Thousand Dollars
(US$400,000 and the “Initial Financing”) through the sale and issuance by the Company of shares of preferred stock (the “Preferred
Stock”) to be designated upon execution of the Definitive Agreements. The Initial Financing and number of shares of Preferred Stock:
(i) shall be convertible into 533,333,200 shares of the Company’s restricted common stock, par value $0.001 (the “Common Stock”);
(ii) shall maintain a number of votes equal to the number of shares of Common Stock the Preferred Stock is convertible into; (iii) shall
provide for a 12% annual coupon payment; (iv) shall be collateralized by certain Company assets to be agreed upon by the parties in
the Definitive Agreements; (v) shall provide for a right of participation in the Company’s operating profits to be agreed upon by the
parties in the Definitive Agreements; and (vi) shall include (A) a warrant to purchase up to 533,333,200 shares of Common Stock and
(B) a warrant to purchase up to 800,000,000 shares of Common Stock.
AI
