InvestorsHub Logo
Followers 287
Posts 21275
Boards Moderated 4
Alias Born 09/16/2009

Re: matoutus post# 24469

Tuesday, 06/21/2011 1:52:27 PM

Tuesday, June 21, 2011 1:52:27 PM

Post# of 37899

I understand what you are implying based upon 2 reference points



I am not implying anything, I posting supported statements that were given by the company. The company provided the info and the dates May 12th specifically is shown on the OTC the filing date has the end date of the 1st. I did not imply that, the company provided that info.

...but the fact is the the $23,000 still shows on the balance sheet and so does the convertible note ...



The filing end date is June 1st, which would be the actual date of conversion so it cannot account forward. The debt has to be listed as the note would convert at the end of the trading day. The filing specifically states it will convert, it is not an option so those shares become free trading common on the date of conversion.

and there is no accounting for presumably 5k for operating capital?



The fact remains there are 5 million on top of the 23 million newly converted shares for the Note. They paid 17K, that money had to come from the sales of shares and also provide some operational capital for future events as they have no cash. The money just did not materialize, it comes from share sales.

...Now I wish they had already done all these things and we had this behind us




....but the fact is the evidence in black and white simply does not bear this out .



What filings are you reading, they clearly show 28 million shares diluted, a note converted and $17K in money paid out with NO CASH on hand. It is what is DILUTION.

I can only assume that the May 12 reference point is erroneous info from the old company



The New company has been in charge of this ticker well before the May 12th date, it has nothing to do with the old company.

or perhaps the old company was given 26m shares consideration or whatever



The filing says a Note Converted it is as black and white as it can get, the NOTE CONVERTED TO COMMON SHARES AFTER IT CAME UP DUE ON THE 31st of MAY.

....the new companies reference point is May 17 with 304m shares ...and was updated today to 306M ....nothing to argue about ...



Incorrect the New company updated that TAB on May 12th as they are the only ones that can. But you are right nothing to argue about, so you were wrong, let it go..


we just have 2 differenct sets of facts on which to determine what has transpired ...



No, I have a fact and it is supported

.I feel my set of facts based upon the balance sheet today simply does not show dilution ..other than 2m .



And that would be wrong, as it clearly shows dilution and the conversion of a Note for 23,000,000 common free trading shares at .001. It is alright, learn from it and embrace it, it is just a normal occurrence of a start up.