these convertibles are what are being dumped into market...redwood capital has dumped millions in ECOB aswell....toxic funding...the management of BFLX don't have anything secured by the looks of their supplemental disclosure but have a ton of shares to screw investors over....
GLTA
On February 25, 2013 the Company has been authorized to issue 9,002,000,000 (9 Billion 2 million) at a par value of 0.0001 Break down of class shares shall be 9,000,000,000 common par value 0.00001, Preferred A Share 500,000 par value 0.00001, Preferred B Share 1,500,000 par value 0.0001 the preferred stock will have the rights as designated as outlined in Attachment A Designation of Preferred Stock of Bioflamex Corporation.
Effective February 25, 2013 the Company amended its articles of incorporation to increase it authorized capital to 9,000,000,000 shares of common stock par value $ 0.00001, 500,000 Preferred A Shares par value $0.00001, and 500,000 Preferred B Shares, par value $0.00001.
During the period ended May 31, 2013, the Company issued 8,050,000,000 restricted shares of common stock of the Company to directors for compensation with a deemed value of $ 80,500.
During the period ended May 31, 2013, the Company issued 803,419,595 shares of common stock for debt $ 20,411.
On June 4, 2013, Magna elected to convert 10,305,675 shares at a conversion rate of USD 0.000387 equivalent to USD 3,988.
On August 14, 2013, Redwood Management elected to convert 25,000,000 shares at a conversion rate of USD 0.00055 equivalent to USD 13,750.
On August 21, 2013, Magna elected to convert 8,928,572 shares at a conversion rate USD 0.00056 equivalent to USD 5,000.
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