Replies to post #3830865 on BB's Stock Haven

[BottomzUpp]

HERE YA GO...VTCQ SHARE STRUCTURE:

560M A/S
http://nvsos.gov/sosentitysearch/CorpDetails.aspx?lx8nvq=4vj3QOGJMl1j1dl5DXIppQ%253d%253d&nt7=0

OS -

From the 10-QA filed on 3/25/15 for the period ending 1/31/15...

10-Q for period ending 1/31/15

Quote:
On November 28, 2014, mCig completed the spin-off of VitaCig, Inc. (the Spin-off). Effective as of 11:59 p.m., New York City time, on November 28, 2014 (the Distribution Date), the Company distributed 270,135,000 shares of common stock of VitaCig, Inc., par value $0.0001 per share (VitaCig Common Stock), to holders of mCig™s stockholders of record as a pro rata dividend. The record date for the dividend was November 28, 2014. The Ex-Dividend Date was set for November 25, 2014. mCig stockholders received one share of VitaCig Common Stock for every one share of common stock, par value $0.0001 per share, of mCig. The Spin-off was completed for the purpose of legally and structurally separating VitaCig, Inc. from mCig. MCig retained 230,000,000 shares of common stock and remains as a controlling shareholder. The shares of common stock to be received by mCig shareholders were registered on a Form S-1 filed by VitaCig and declared effective by the Securities and Exchange Commission on November 5, 2014.


and...

Quote:
Investment in Vitacig, Inc.

mCig, Inc. owns 47% of VitaCigand reports this ownership on the equity method of accounting. VitaCigs has no control over mCig in the ownership or the control of the Company. The Company has an original investment of $9,390 and the consolidated portion of the VitaCigs, Inc. where the profit of 18,396 is off set showing a balance of$9,006. The Company continues their relationship with VitaCigs, Inc. but has no control over any part of VitaCig except as a majority shareholder and Paul Rosenberg is a member of the VitaCig Board of Directors. The executive officers and other director of VitaCig are not officers or directors of mCig.


Paul temporarily converted his 23 million preferred shares to common for the 1 to 1 VTCQ dividend. He then contributed his 230 million VTCQ dividend shares to mCig and converted those common shares back to preferreds. In addition, Paul also owned roughly 7 million common shares of mCig at the time which also qualified for the dividend (the 10-K for the year ended 4/30/15 shows him owning 7,777,494 common shares). This puts roughly 47% of VTCQ in the hands of mCig and Paul.

As an officer of the company, Paul would have to file with the SEC before selling any of his VTCQ shares. Consequently, they should be considered as restricted and not part of the float.