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Sunday, March 10, 2013 2:40:29 PM
All information in this post can be found in the link provided.
Airtrona is based out of Florida, USA. and has no public share structure... the same goes for 7319291 Canada. Its just a private business in Canada, owned by the man that owns Airtona.
Basically the 7219291 Canada business that was "acquired" by CCRY is the Canadian front for Airtrona... or will be.
So here is what we have. A man with a PRIVATE business based out of Florida (Airtona) who is looking to or already has expanded his PRIVATE business to Canada(7319291 Canada).
Why is this important to CCRY? The truth is, Airtona is not important to CCRY (Chancery Resources). From what I can gather CCRY is a failed publicly traded business with MINIMAL debt.. ($8k) according to the paperwork from the Merger Agreement
https://www.otciq.com/otciq/ajax/showFinancialReportById.pdf?id=96099
So they buy a failed company with $8k debt.. pay it off, get their financial paperwork completed and file..!!!!!!!
2.6. Current Business of Acquiror. Effective at the Closing, Acquiror shall have sold all of its current
business operations, including all of its currently-owned assets, to the effect that, upon the Closing, the only business
operations of the Surviving Corporation shall be those of Target. The terms and condition of such sale transaction shall
be determined by the Board of Directors of Acquiror. It is specifically agreed, however, that any and all debt of Acquiror
that is, as of the date of this Agreement, represented by a promissory note(s) shall remain as a valid and existing debt
of the Surviving Corporation.
they paid these peoples debt off and took over the Publicly Traded company status...
HOWEVER!
CCRY is important to Airtona & 7319291 Canada. Why? Airtona & 7319291 Canada are essentially 2 separate entities(before the merger) owned by the same persons, "James Cairns & Kenneth Dehon". Here is where it gets good. CCRY issued 150,000,000 shares to both Airtona & 7319291 Canada for a total of 300,000,000 shares... But where exactly did these shares go? They went to James Cairns and Kenneth Dehon. They own both of the "Acquired" companies, meaning they are the ones that received the shares..
FOCUS! here is the icing on the cake.... pay attention to the dates.
Acquisitions
Effective November 26, 2012, the Company acquired two separate corporations, AirTrona International, Inc., a Florida
corporation (“AirTrona”), and 7319291 Canada, Inc., an Ontario, Canada corporation (“7319291 Canada”).
Pursuant to the AirTrona Merger Agreement, the Company acquired AirTrona by the issuance of a total of 150,000,000
shares of the Company’s common stock. Pursuant to the 7319291 Canada Merger Agreement, the Company acquired
7319291 Canada by the issuance of a total of 150,000,000 shares of the Company’s common stock. The Company was
the surviving corporation in each such transaction, with the separate existence of each of AirTrona and 7319291 Canada ceasing.
Now here is the most current share structure....
Information Regarding Company Common Stock
Holders. As of December 3, 2012, the number of record holders of the Company’s common stock, excluding nominees
and brokers, was 40, holding 352,250,000 shares.
Officers and Directors, as a group (2 persons) 292,500,000shares 83.04%
Based on 352,250,000 shares outstanding
The shares for the acquisitions were issued BEFORE the final Share Structure was given. This means that the ACTUAL FLOAT IS 59,750,000shares!!!!!!!
We were incorrect in adding the 2 execs shares to the "Merger Consideration" ... the 300,000,000 shares.. The 2 execs received their shares from the "Merger Consideration"
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