I am not sure how that works. I would think that you would want that change to be shown ASAP as it effects outstanding shares numbers and the stocks overall ratio would become more attractive.
I remember reading the debt statement in the 10Q and thought I seen something about the debt being satisfied for $100 but can not find anything about the share structure changing. I found I believe the changes below. According to this Tom sold 10 million of his shares and returned 21.4M to be canceled. 6.4M of those went to Demeter I guess?
I think I see what happened.I think by retiring Toms shares offset the amount of shares that came forward from convertible debt 2nd quarter. There also looks to be additional shares convertible debt related of another 20+ million during this current quarter. I copied the text from the 10Q below.
On August 6, 2015, the Company settled its debt to its former CEO, Tom Bollich, for an immediate payment of $100. The debt reflected certain advances from Mr. Bollich to the Company, which were non-interest bearing, unsecured, and had no maturity date. On the Company’s balance sheet, the debt totaled $194,958 on June 30, 2015. Based on Mr. Bollich’s Form 4 (filed August 10, 2015) and its correspondence with its stock transfer agent, the Company understands that Mr. Bollich sold ten million shares of restricted common stock and all of his preferred stock to private parties. He also returned 21,428,023 shares of his common stock to the Company, and the Company authorized cancelation of the shares on August 11, 2015 (see Form 8-K filed August 12, 2015).
F- 17
Additionally, the Company issued 8,973,614 shares of its common stock in connection with conversions of its series 1 convertible notes. $605,325 was allocated to common stock and additional paid in capital as a result of the conversion. .
Subsequent to June 30, 2015, and through August 13, 2015, the Company has received notices requesting it to issue an aggregate of 10,944,256 shares of its common stock to various holders of its outstanding series 1 convertible notes representing the conversion of an aggregate of $526,783 in principal obligations and $61,196 in interest. Of these, the Company has actually issued 3,251,401 shares of its common stock representing $151,783 in converted principal and $20,819 in interest. Thus, the Company anticipates completing the conversion of an aggregate of $375,000 in principal together with $40,377 in interest into an additional 7,692,855 shares of its common stock before the end 2015 2014 (1) risk free interest rate of 1.32 % 1.38 % (2) dividend yield of 0.00 % 0.00 % (3) volatility factor of 162 % 137 % (4) an expected life of the conversion feature of 3.5 years 4 years (5) estimated fair value of the company’s common stock of $ 0.05 per share $ 0.32 per share Weighted Average Number Grant-Date of Options Fair Value Outstanding as of January 1, 2014 - $ - Options granted 10,296,000 - Options exercised - - Options forfeited - - Outstanding as of December 31, 2014 10,296,000 - Options granted - - Options exercised - - Options forfeited - - Outstanding as of June 30, 2015 10,296,000 $ - of the third quarter.
News 
Market Data 
Discover 
