Replies to post #24103 on Megola Inc (MGON)

[SYTI]

Give you a little accounting tip...all goes away when old stock gets returned to treasury...its an accounting thing and hard for many to understand...ONCE stock returned when deal closes deficit GONE. only 196 mil common issued...now expect company will soon issue preferred for acquisitions but wont exceed authorized...all transition BS accounting..how can a deficit be 41m when company made zero revenue since 2014 LOL

CLEAN SLATE HERE...NEW products, assets= new revenue stream
IMO


NOTE 7- DERIVATIVE LIABILITIES FROM EXCEED AUTHORIZED SHARES OF COMMON STOCK
As of June 30, 2020 and March 31, 2020, given the fact that the Company had 3,000,000,000 shares of common stock authorized, the
Company determined it could exceed its authorized shares of common stock by approximately 9,196,103,410 common shares
common shares respectively, if all of the series of Preferred Stock described in Note 6 above were converted into shares of common
stock. At June 30, 2020 and March 31, 2020, 9,196,103,410 common shares respectively in excess of the authorized common stock
were accounted for as a derivative liability. The fair value of 9,196,103,410 common shares was determined to be $41,382,465 and
$18,392,207 at June 30, 2020 and March 31, 2020 respectively, using the closing price of Megola’s common stock on each of the
respective periods.

[stervc]

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