East Coast Diversified Corp (fka ECDC)

[flaflyersfan]

jomama454, insiders are giving up common shares because they know that they must issue more and more and more to meet obligations. ECDC created Preferred A stock to maintain control of the company as issuing 600 million- 1,000,000,001 shares to themselves to maintain 51% would be ridiculous. Preferred A shares carry 100 votes for every share owned versus common A shares that carry 1 vote per share. ECDC can issue all 2,000,000,000 shares of common A stock and 20,000,000 shares of preferred A control everything regarding ECDC without common shareholder approval. They have 50,000,000 Preferred A shares available so A/S can go to 5 billion shares while those who own little to no shares of common A stock control everything about ECDC.

Anybody care to add up the Preferred A shares issued so far from the last 10-K and two 10-Qs?

Good luck.