http://www.otcmarkets.com/stock/TRBD/news some high lites As the result of the conversion of the convertible notes, the company eliminated a total of $804,311 in liabilities and issued a total of 771,441,088 of restricted common stock. As of April 21, 2015, the company has 1,771,441,088 shares of common stock outstanding. no convertibles, these guys were so impressed with new CEO they took 2X the current PPS when offered and locked them up for months, On April 15, 2015 Aspatuck converted $349,375 (including accrued interest) of the convertible notes into 349,375,000 shares of restricted common stock at the conversion price of $.001. After the conversion and the surrender of the Warrants, Jason Meyers, was the beneficial owner of 415,724,245 shares of common stock or 23.47% of the total shares of common stock outstanding. this is the past CEO so he has a lot invested here and is on good terms just needed to hand the reigns off to more experienced.
Robert H. Davies has been elected as the Company’s new Chief Executive Officer effective as of April 22, 2015. Mr. Davies will also act as the Company’s Chairman of the Board of Directors. He is succeeding Jason Meyers who will step down as the Company’s Chairman of the Board of Directors and Chief Executive Officer to pursue other interests. At the present time Mr. Meyers will remain a director of Turbodyne through the transition. Mr. Davies has over 25 years of experience focused on strategic planning, operations, turnarounds/restructurings, mergers & acquisitions and divestitures. He has acted as principal in corporate transactions aggregating approximately $1.2 billion in total value.
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