Don't know how to answer your question since it defies logic that a company would do what you are saying. Why didn't they just do an RS when they bought the shell and start fresh without having to raise the authorized preferred shares to 10 million and then issuing it to themselves? Much simpler to do that. My guess is that they are gearing up to bring in numerous companies and need the 10 million preferred shares to distribute to the minor partners of the companies that they are planning on bringing in to give them ownership rights.
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