Replies to post #14806 on Sunset Island Group Inc (SIGO)

[Alan Brochstein]

THIEVES RUNNING THIS COMPANY!

They borrowed $305K and have now given up potentially 15% of sales in perpetuity!

http://www.otcmarkets.com/edgar/GetFilingHtml?FilingID=12272477

On September 8, 2017, the Company converted its note payable into its new Series B Preferred Stock. The Preferred Stock has no conversion right or no voting rights. The shareholders of the Series B Preferred will be entitled to $200 per pound that is sold by the Company. The Company issued 305,700 shares for the $305,700 note payable.

$200 per pound forever. If the company sells at $1300 lb, that's 15%.

SIGO must think people are stupid!Throw out all those valuation arguments - the company is allowing insiders to siphon it. It would have been better to keep the debt and pay it off with interest...

[smilley78]

This is good deal and tell me any business being 0 debt after starting something, it take years to get to 0 and then start making money.

[jimr1717]

Great DD thanks.