Gotta love those death spirals. They need more suckers and stock.
During the quarter ended June 30, 3014 the Company issued the following shares of its common stock:
27,120,832 shares were issued pursuant to the conversion of $25,000 in debt plus accrued interest held by the debt holder for more than one year. The shares were issued without a restrictive legend pursuant to Rule 144. 29,569,892 shares were issued pursuant to the conversion of $25,000 in debt plus accrued interest held by the debt holder for more than one year. The shares were issued without a restrictive legend pursuant to Rule 144. 55,000,000 shares were issued pursuant to a securities purchase agreement in the amount of $100,000. The shares were sold to an accredited investor pursuant to an exemption from registration under Section 4(2) of the Securities Act and/or Regulation D. 30,864,197 shares were issued pursuant to the conversion of $25,000 in debt plus accrued interest held by the debt holder for more than one year. The shares were issued without a restrictive legend pursuant to Rule 144.
The fun part is that they decided among themselves (board of directors I mean - no you as a shareholder are not included in this very respectful limited circle) that shareholders approval (that is us) is not required to increase shares!!!
If anybody was still trusting Vic and his team, maybe it is time now to reflect on that trust!
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