Inca Designs, Inc. (fka IDGI)

[mzurosky]

Not sure what your definition is of outside financing, but they certainly haven't been using money generated by the company to fund on-going operations...

Below is an example of two loans provide by Evan Kaye. At the time he would have been considered an outsider and funding the company substantially. Also converted that loan into shares without shareholder knowledge and diliuted the OS by over half of the outstanding shares at the time. And to top it off, we didn't know about this until almost 3 years after the fact!!!

http://sec.gov/Archives/edgar/data/1084702/000119312510228969/dsc13d.htm

"On June 20, 2007 and October 2, 2007, a limited liability company solely owned by Mr. Kaye, Golden Ventures, LLC (“Golden”), loaned the Company $200,000 and $250,000 respectively. The Company issued Convertible Promissory Notes to Golden (the “Notes”). The remaining principal and accrued but unpaid interest due under the Notes of $360,894 was converted into 360,894,500 shares. Golden assigned the shares to Jade Consulting, LLC, which is wholly owned and controlled by Mr. Kaye.

On November 30, 2007, Golden loaned the Company $70,000 and the Company issued a Convertible Promissory Note to Golden (the “Note”). Golden subsequently assigned $50,000 of the principal of the Note to an unaffiliated third party. The remaining principal and accrued but unpaid interest of approximately $58,159 (calculated through September 30, 2010) is convertible into 58,159,670 shares of the Company’s Common Stock.
"


What is concerning to me is that what would stop them from doing this again and not informing investors? Hell we can be sitting at a 10B OS at this point and wouldn't have a clue. By not releasing financials or communicating with investors, I always feel like they have something to hide... much like what happened in the above release!!!

IMO

-Matt