He did return 90 million shares, but it was widely touted as a act of good will. lol
But instead, he just gave those back and took in exchange5 million shares of Series A Convertible Preferred Stock.
This did two things, it gave him stock that would not be effected by the day to day PPS AND it allowed him to have 90 million more shares to issued, without raising the AS number.
(He only paid $15K, or .00017 per, for those 90 million shares. Something tells me, he'll make out pretty good on that deal. lol)
Also, the 356 number has to include the 98 million that were already OS. We just don't know if they include the 38 million for the new Offering. I'm GUESSING that it does include the 38, since they needed those to be available for the Offering, within 2 days (I believe that was the number)of the posting, so they could try to start selling.
I still don't know how in the world, when you look at the plan, anybody is going to buy those shares. Maybe I'm missing something?
Did you see the Dilution table on page 16, concerning the Offering shares? Nobody seems to be considering the "estimated offering expenses".
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