Replies to post #22132 on Auscrete Corporation (ASCK)

[piker86]

The biggest threat to dilution here is not the note conversion, its a massive self payment by John and Co.

After the last reverse split last year, when the share count went down to 3.5 million, John paid himself and his buddies 53.5 million shares. That was an instantaneous dilution of 96% for those of us who had bounght shares having no idea that was coming.

Now that their self payment has been diluted to almost nothing with the rest of our shares, they will likely do that again, because right now John and Co have a very low ownership of the company. That 53.5 million was reduced to under 300K shares with the last reverse split, and the outstanding share count is just under 16 million at this point according to OTC markets, updated last week.

Its hard to believe they would take back 96% of the company after the last reverse split and then this time sit tight with less than 2% ownership (300k out of 16 million).

I expect them to issue a self payment of around 100 million shares very soon, which is over 10 times the dilution threat of outstanding notes. When they do that our stock value will be cut by over 80%. It seems like stealing to me, and fraud, but I filed a complaint with the SEC last time it happened. The SEC said thank you for your input, and then I never heard from them again.