looks like they are getting ready to sell some of those free trading shares that were awarded to "consultants"
There are big red flags waving here and huge targets being slapped on the foreheads of several individuals here... free trading shares issued under an employee stock option plan to a SHELL that has no business, no employees, no assets, no money...but a whole lot of debt.
Now it looks like they have issued more shares to some guy over in the Mid East
Entry into a Material Definitive Agreement, Unregistered Sale
Item 1.01 Entry into two Material Definitive Agreements.
Effective March 15, 2013, the Company retained the services of Mohammed AS. Aljeaidi and Hamid A.S. Aljeaidi under two separate consulting agreements to provide Public Relations and Promotional Services, including institutional and individual investor relations services to increase awareness of the Company’s businesses within the Middle East Gulf Council States and thereby create a potential market for the Company’s securities in the region. The agreements also specifies that the Public Relations services the Consultants will provide includes promotion of the Company’s publicly traded stock for purchase by qualified investors, obtaining write ups about the company and acting as a relations consultant for a twelve month period from the date hereof.
The term of the Contractor's appointment shall commence on March 15, 2013 and continue for a term of 12 months expiring on March 15, 2014.
The Consultants acknowledge the financial constraints of the Company and is willing to accept Restricted Rule 144 Reg. S shares in lieu of cash as full payment of all compensation under the Agreement for amounts owed. The Consultants also acknowledge that as the shares of the Company are restricted for an indeterminate period of time, and as their future value is uncertain, the Company agrees to issue in advance a sufficient number of shares to account for the time, and risk factors associated with receiving payment of restricted common shares for services and agrees to the allotment and issuance, subject to the conditions herein, of 600,000 shares under each agreement to each consultant (1,200,000 total shares) of restricted Rule 144 common stock issued as full payment to each of the Consultants under the Agreement.
For the purposes of each agreement, the consulting services fee shall be deemed to be USD $60,000 ($5,000 per month) for the 12 month term of each agreement for a total of USD $120,000 ($10,000 per month).
Item 3.02 Unregistered Sales of Equity Securities
Pursuant to Item 1.01 listed above, the Company shall issue 600,000 shares of restricted Rule 144 common stock to Mohammed A.S. Aljeaidi (or the Consultants nominee) and 600,000 shares of restricted Rule 144 common stock to Hamid A.S. Aljeaidi for a total of 1,200,000 shares issued as full payment to the Consultants under the Agreements.
like I said befor...gonna see some of these characters in the funny papers before this pump and dump is done!!
