From 8K:
The Harlands currently own 3,000,000 shares of the registrant’s Series B Preferred Stock, $0.001 per share (the “Series B Preferred Stock”). Pursuant to the registrant’s Certificate of Designation establishing the Series B Preferred Stock, a holder of shares of the Series B Preferred Stock is entitled to the number of votes equal to the number of shares of the Series B Preferred Stock held by such holder multiplied by 500 on all matters submitted to a vote of our stockholders. Following the payment of the Purchase Price, the Harlands, the registrant, and the Buyer agree that the 3,000,000 shares of the Series B Preferred Stock owned by the Harlands shall be cancelled in exchange for 300,000,000 shares of the Common Stock.
Thus, the Harlands won't be able to exchange Series B Preferred until Mr Frankel pays the $2 mill on May 15th:
Payment of the Purchase Price . On the Closing, the Buyer shall pay the Purchase Price in the sum of $2,000,000 to the registrant.
Thus, I agree with roiresearch that the O/S still remains low and will until May 15th. I don't think the Harlands want to screw Mr Frankel at this point. He is their sugar daddy and the only one willing to take this shell off their hands.
Once Mr Frankel rolls in one (or two) of the businesses that he owns (Town & Country Commercial Realty and/or Mainline Land Co) this company will most likely have millions in revenue, based on his profiles that I posted earlier. Speculation, yes. But come on. He is fronting $2 million right now. I doubt that's all he's got! No matter what the A/S, he's not a fool, has profitable private businesses, and is willing to spend a bundle to go public! Think about it!
