Pegasus Tel Inc (PTEL)

[Bramabill]

Flash funding made alot of money on this P+D

On June 30, the Company increased its authority to issue 20,000,000,000 shares. Total common shares authorized increased to 19,900,000,000 shares at $.0001 par value and total preferred stock authorized remained at 10,000,000 shares at $.0001 par value.

On July 14, 2011 2,400,000,000 shares were issued to Anthony DiBiase for services valued at market of $.0069 per share, resulting in an expense of $16,560,000.

On July 28, 2011 200,000,000 shares were issued to Flash Funding, Inc. to settle the $76,750 note payable to Spire. The fair market value of the stock at issuance is $.0059 per share, resulting in an finance expense of $1,180,000.

On September 29, 2011 131,281,541 shares were issued to Belmont Partners LTD, for services valued at market of $.0003 per share, resulting in an expense of $39,384