Replies to post #44087 on BrewBilt Brewing Co (BRBL)

[TheBullman]

Now what I do

[Stock_Gambit]

You're six days late. That's old news lol this is a terrible move though considering Tilden didn't even know how many notes were out there. He's one of the dumbest CEO's I've ever talked to. He told me he didn't know how to reduce the A/S. How did he get hired?!

After the split, I'm bidding .0001 because it will hit. Only this time there won't be new notes and much smaller.

[Nistel]

At least this one gives a SS update:

"As of the date of this Information Statement, the Company’s authorized capitalization consisted of (i) 7,500,000,000 shares of common stock, of which 4,579,478,015 shares are issued and outstanding."

That's about 400M more than the latest update before.

BUT

For those who think all convertible debt has gone now:

REASON FOR REVERSE SPLIT

"The Board believes the Reverse Split is necessary and advisable in order to maintain financing and capital raising ability, comply with the terms and conditions of certain financial commitments and related debt instruments and, generally, maintain flexibility in today’s competitive and rapidly changing environment.

The Reverse Split will have the effect of creating newly authorized shares of our common stock. Any issuance of additional shares of our common stock would probably have the effect of diluting the earnings per share and book value per share of outstanding shares of common stock. Any additional shares of our common stock, when issued, would have the same rights and preferences as the shares of common stock presently outstanding. Additional shares of our common stock will be available for issuance by the Board for stock splits or stock dividends, acquisitions, raising additional capital, conversion of debt to equity, stock options, or other corporate purposes. The Company does not anticipate that it would seek authorization from its stockholders for issuance of such shares, unless required by applicable law.

An immediate purpose for the Reverse Split is to provide enough shares of our common stock required to satisfy certain financial commitments evidenced by our convertible debt instruments. The Board determined that the settlement of these outstanding financial commitment could exceed our authorized shares of common stock."

Also a really funny sentence:

"Potential investors who might consider making investments in the Company may be unwilling to do so when the Company has a large number of shares issued and outstanding with little or no stockholders' equity. In other words, the "dilution" which new investors could experience could discourage them from investing. A reduction in the total outstanding shares of our common stock may, without any assurance, make the Company's capitalization structure more attractive."


Well is that not a nice and polite way to say we wiped out all old shareholders so now we have a smaller OS to be able to attract more new people to sucker in buying our scammy stock so we can dump all of our newly created shares again on the market!