If those remainder 491 million shares belong to the lawyers for the civil suit. Then where is there SC13G/A filing....They would own 5 to 10 percent of the outstanding..We know they didn't sell their shares. The volume wasn't there...Where did you get the info on your statement that the 491 million shares belong to the lawfirm for the civil suit..Here is the only filing that has been issued...This is the law firm that represented Mac... I can't find yours ...
Additionally, as part of the Agreement and in order to provide for payment of past due legal fees, we agreed to issue to our legal counsel, Hunter Taubman Weiss LLP, a $300,000 unsecured convertible 4% Company note payable on April 30, 2015, which shall (i) accrue interest at the annual rate of 4% per annum, (ii) be convertible into our Common Stock at a fixed conversion price of $0.01 per share, (iii) be subject to prepayment at the option of the Company, (iv) contain full ratchet and other customary anti-dilution protection, and (v) not be subject to any mandatory installment or other mandatory prepayment provisions prior to the April 30, 2015 maturity date.
Gold Seeker Sunday, 07/06/14 10:45:17 AM Re: guardiangel post# 23853
Post # of 23858 Wolfie, there is no guessing as to how many shares are outstanding.
From the 8K:
"As of June 10th 2013, we had approximately 4,508,746,417 shares of common stock issued and outstanding"
The remainder of the 5 billion shares were in the employee benefit plan which can be used to provide compensation for services rendered. It cannot be used for lender note conversion. This fund was used to compensate the lawyers for the class action lawsuit.
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