We know the CEO never delivered preferred shares, yet still took debt off the books a long time ago. Here is what the stinky pinky CEO convicted felon says in each of his unaudited financials now.......it is always "next quarter". Kinda like free beer "tomorrow".
The Company has agreed with certain debt holders of the Company to convert their debt to preferred equity of the Company. This was announced in a press release on April 30, 2014. The Company has not physically issued the preferred stock certificates as of the date of this filing – the Company intends to do so in the next quarter, after it makes the requisite filing with the State of Nevada to increase its preferred share allotments to accommodate the conversion of the debt.
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