Crednology Holding Corp fka COHO

[BGP]

During the 3 months from January 1, 2011 - March 31, 2011 26,466,628 shares were issued. Those shares went to payoff $53,933 worth of debt at the super discount rate of $.002/share.
On January 4, 2011, the Company issued 26,466,628 shares of common stock at $.002 for cash aggregating $53,933 for payment of debt
On January 4, 2011 the stock was trading at $.024/share. That is quite the discount at $.002/share. So who go those 26,466,628 shares at that super discounted rate? The filings do not disclose that information.

What we do know is that $163,947 worth of debt Notes still remain. Are the rest of the debts owed going to be converted at the same super discounted rate of $.002/share? If so it would take 81,973,500 more shares to eliminate those debts.

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