More interesting is the Question: How big is the "Float" really?? From the "CEO himself" we have been told that there are ~40M shares available that can be traded, means the RESTRICTION got removed. And yes he's somewhat correct 14.5M shares got registered by Taurus and 24M shares were registered by the former Co-Founder of SWCI Mr. Jae Hwang who is a Partner of the Promoter/Underwriter and Issuer of the Legal Opinion Letters for the Company John Ki. Those shares are offered at a FIXED Price of 0.11 per the related S1/A the way the SEC requested it since the Company always was and still is a Shell.
Let's have a look what the SEC said about the Company back in 2011 AFTER the Company tried to use Rule 144 for the Offering of 50,000,000 shares at 0.01
SEC Response:
• You do not have any assets. • You will be unable to implement your business plan without obtaining substantialadditional funding.
12. It appears that Mr. Hwang is also employed by the law firm that rendered the legal opinion in this filing. Please provide the disclosure required by Item 404(a) of Regulation S-K and disclose this relationship in the “Interests of Named Experts and Counsel” section below.
So now lets look at the latest Holders per the Filings: Seon Won (2) 297,000,000 CEO Jae Hwang (3) 39,000,000 former Treasurer and Secretary John Ki (4) 39,000,000 Affiliate (10 Baggas, Opinion Letters) Ben Bailey 39,000,000 Ben from 10 Baggas? very likely also that pennystockmomentum.com page M Stocks, LLC (5) 39,000,000 Psionic Matrix Taurus Financial Partners, LLC (6) 24,500,000 J. Scott Sitra Jimmy Ahn 15,000,000 listed as Contact for AP Security what makes him an Affiliate Jason D. Brenner 4,930,000 Osmar E. Chanquin 1,000,000
1,57M were sold in 2011/2012 to ~40 shareholders at .01
So per the table, the listed shareholders should be considered as Underwriters since the Company was always a shell and they got the shares from the Company/Officer directly, means Rule 144 doesn't apply for them. So offereing of shares has to happen at a fixed price as.
Per SEC Response to Mr. Sean Won SW China Imports, Inc. January 14, 2013
How did they got the 8-9M shares in the float that were dumped two days ago? And how many more did they manage to free up / remove the Restriction?
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