Head & Haseltine front row center please.
This isn't supposed to be multiple choice.
You both can't be right. Which one is it?
INTERIM FINANCIAL STATEMENTS
(UNAUDITED)
For the Six Months Ended
June 30, 2011
During the first quarter of 2011, the Company set up a Class C Preferred Stock in order to raise $1.875 million to formally acquire the Intellectual Property that drives CMD. The Company is in the process of documenting the approval of over 50% of the Preferred Series A and B stockholders to authorize 15 million shares with a par value of $.001 of the new Series. It is anticipated that the new Series C will be junior to the Preferred A and B in liquidation preference and be convertible into common stock at a ratio of 20 common shares for 1 share of Series C Preferred with voting rights equal to its conversion ratio. The Preferred Series C will be authorized by the Company on or before November 1, 2011.
On August 15, 2011, I reviewed the documents provided to OTC Markets by the Issuer in
connection with the quarter ended June 30, 2011, entitled “Interim Financial Statements for the Six Months Ended June 30, 2011.”
Sincerely,
William B. Haseltine,
Attorney at Law
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myFreightWorld Technologies, Inc.
Interim Disclosure Statement
For the Six Months Ended
June 30, 2011
During the first quarter of 2011, the Company set up a Class C Preferred Stock in order to raise $1.85 million. The use of the proceeds from this offering are as specifically determined by the Board of Directors. The use of the proceeds include expenses for the preparation of the Company’s financial audit, payment toward carrier and non-carrier liabilities, enhancements to software and hardware IT systems and general working capital. The Company is in the process of documenting the approval of 50.1% of the Shareholders based voting rights to authorize 15 million shares with a par value of $.001 of the new Series. The completion of all documentation for authorizing the series is required to be done on or before November 1, 2011. It is anticipated that the new Series C will be junior to the Preferred A and B in liquidation preference and be convertible into common stock at a ratio of 20 common shares for 1 share of Series C Preferred with voting rights equal to its conversion ratio.
August 14, 2011
“/s/” J Michael Head
J Michael Head
CEO and President
My Freight World Technologies, Inc.
" you can't cheat an honest man "
