From Annual Report filed:
On January 30, 2012, ADBI relinquished its 100% ownership and all rights to Centriforce Technology Corporation and its 50% ownership in SubSea. The underlying assets of both Centriforce and SubSea had no value at that time.
Cash = $0
Assets = $0
Revenue = $0
Liabilities = $137k
Shares outstanding = about 77 million
Matthew Schulman, Age 55, CEO, President and Director
Yoseph Zekri, Age 54, Secretary and Chairman of the board directors
Yoseph Zekri, has been Chairman and Secretary of the Company since February 2012. Mr. Zekri has extensive experience as a senior executive officer of private businesses, serving since 2010 as CEO and President of Solution's USA, LLC, a private company engaged in importing and selling furniture on both wholesale and retail basis.
On January 20, 2009, the Company issued a one-year convertible note payable in the amount of $50,000 to the then secretary of the corporation, Haim Silber, in exchange for services Mr. Silber, a former officer and director, was issued an additional one-year convertible note for $50,000 as payment for services in 2010. The notes are convertible at $.01 per share and bear an initial interest rate of 10%. Accrued interest at December 31, 2011 and 2010 was $31,699 and $16,842, respectively. The 2009 note is currently in default.
Officers and Beneficial Owners:
Schulman = 1750 shares
Zekri = 21.3 million shares
Ron Weissberg = 6.7 million shares
