I'm exhausted waiting for a turn around as I see it sinking more and more daily. If there truly was good news it could at least stay the same price. starting to sell my positions that I used to average down as it was no benefit.
"With Besado's Label application now in process and label is actually being worked on by the TTB."
Let's remember we have never seen any link or confirmation or even statement from the company as to the date the label app was submitted, so you don't actually know that for a fact, do you?
2 Florida attorneys opined on behalf of "the Victory Partners" so they could be issued free trading TEXX shares. Here's Pena's opinion letter. Please note the inconsistencies in the dates.
The original debt was incurred by Team Nation Holdings Corp (Team), and was exchanged with Victory Partners, LLC (hereafter referred to by name or as “VP”) in exchange for the controlling interest of Team, and eventually acquired by EA. This debt was duly reported, subject to audited review and an indebtedness that was subject to being transferred as a liability.
The purchase of such debt was perfected by Victory Partners upon the exchange of consideration with Emperial Americas under the September 2011 agreement. At that point VP delivered all rights to such securities as it had of Team Nation to EA.
This transaction, between EA and VP was executed on September 20, 2011. The consideration for this transaction included certain shares and interests received by Victory Partners, of Team Nation.
On January 5, 2012, the Corporation had the majority controlling interest changed to the control of Emperial Americas, through the purchase of four sets of Series A Preferred Shares by Victory Partners, LLC. In a private sale, the four main holders of 60 Series A Preferred Shares, being Dennis R. Duffy (15 preferred shares) Janet Okerlund (15 preferred shares), Daniel Duffy (15 preferred shares) and Norman Francis (15 preferred shares). Additionally, Victory Partners received the rights to 1 billion common shares held by the same four individuals in the amount of 250 million shares each. Such shares were purchased by Victory Partners, and thus controlling interest of the Company was passed while simultaneously, a share exchange agreement was entered into for simultaneous exchange of such preferred shares with Victory Partners, for a sum of $475,000.00 to be owed to Victory Partners from the Emperial Americas. Additionally Victory Partners negotiated the purchase and assignment of some $720,000 in debt owed to the four parties previously due from Team Nation Holdings, Corp.
The Agreement with Victory Partners created a acquisition of assets being the controlling Series A Preferred shares of Team Nation Holdings, Corp. The exchange with Victory Partners for such shares with Emperial Americas created a direct exchange of shares for debt to Victory Partners which makes such matters an acquisition of Emperial Americas as the new public company.
On September 6, 2011 Emperial Americas, Inc. (the private company) entered into a Debt Agreement by and between Victory Partners, LLC. Such agreement was assumed by the Corporation on March 9, 2012. Pursuant to the agreement such debt is convertible into free trading shares of the Corporation at a fixed sale price of $0.16 with a 40% discount for an issuance of $0.096 per shares. On April 11, 2012, the law office of Mark E. Pena issued an opinion with regard to the convertibility of the debt into free trading shares of the Corporation.
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