This just keeps getting better - now OWCP was doing a financing deal with Kodiak - might as well stamp scam on OWCP.
Here is how that scam goes down - OWCP enters into a Equity Purchase agreement but OWCP has to file a S-1 registration statement - of course it never gets filed or is withdrawn.
Here is the Kicker - OWCP has to pay a fee to Kodiak either cash or stock.
"In April 2016, while SEC approval of the EPA was pending, you advised OWCP’s principals that Kodiak desired to increase the value of the EPA by $250,000.00, from $750,000.00 to $1,000,000.00. Thereafter, attorneys at Sichenzia Ross communicated with the principals of OWCP regarding the benefits and detriments of either (a) withdrawing the S-1 that had been filed, and starting fresh by filing a new registration statement for a $1,000,000.00 EPA, or (b) amending the S-1 to include the additional $250,000.00 equity purchase option."
"The price of the OWCP shares on May 5, 2016, the date the RW was filed withdrawing the S-1, was $0.07 and the price of the OWCP shares on February 12, 2016, the date that this S-1was filed, was $.06. Based upon the average price of the OWCP shares of approximately $.005 or less during the period that Nations was dumping the shares into the market after conversion of the Note, we estimate that Nations enjoyed a windfall of approximately $330,000 above the $37.500.00 principal amount of the Note before default. It should be noted that OWCP did not receive any proceeds or other benefit upon the issuance of $37,500 Note to Kodiak."
"Ultimately, while OWCP originally retained Sichenzia Ross to advise them in registering 9 million shares under a Form S-1 for $750,000.00 in consideration, because of the default under the Note, OWCP was forced to issue over 33 million shares to Kodiak’s assignee, Nations, for no consideration at all."
Yep, I and all of the others know exactly how the Kodiak pumping scam works.
IG
Market Data 
Markets 
AI
