It was XTRN. Their balance sheet says they have $100k in assets and $7 million in liabilities. They filed SEC form 15 back in July, did a r/s in August, then bumped the a/s back up to 10 billion shares.
And if you notice, XTRN and XREE share the same corporate address and the listed CEO of XREE is the old CEO of XTRN. Wayne Bailey is the new CEO of XREE, he was the CFO, as stated in the 12/3 PR. But no question its the same company, just a different ticker and improved balance sheet and they are flip flopping director titles.
XREE has a better balance sheet w/ $1.4 million in assets and $1.9 million in liabilities but remember someone has to take on the $7 million in liabilities from XTRN. Their current o/s is almost 7 million shares and the float is 1,257,571 shares as indicated in the 9/30/15 disclosure statement.
Only trading activity this company has ever seen is in the last week. Someone dumped 88,000 shares of which it looks like 40k shares have been flipped higher. There's only been 391 shares shorted in the last 30 days, so either a note is converting or an insider is trying to create a more liquid market. But yes, NITE is on the bid obviously ready to short anything he gets his paws on.
The actual transaction isn't disclosed but it might be an attempt on Michael Barron's behalf to get the $25 million investment capital to finally get the company off the ground. They supposedly have a deal to refurbish rail cars for Amtrak subcontractors but its contingent on obtaining the investment capital.
Can't deny something is in the works, they just spent a bundle bringing XREE current so it should be interesting to watch it unfold, especially after XTRN left a nasty taste in many shareholders mouths.
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