Replies to post #30488 on Houmu Holdings Ltd (HOMU)

[THall]

Nevada SOS is where all this information is at. That is the place where shares are controlled. Again there are 0 common shares with a par value of .0001 and per the 10q Lazar made all 8.27 billion valid and wrote off $8 million in losses, the cost of buying those over issued shares

10q

As of May 31, 2020, the Company had 75,000,000 authorized shares of Common Stock with a par value of $0.001. As of August 31, 2020, and May 31, 2020, respectively, there were 8,272,627,462 shares of Common Stock issued and outstanding. Therefore as of May 31, 2020, the Company had issued 8,197,627,462 shares in excess of the amount authorized. As of May 31, 2020, the Company recorded these excess shares as a liability of $8,197,627 on its Consolidated Balance Sheet based on their par value of $0.001 per share.

The accompanying financial statements have been prepared assuming the Company will continue as a going concern, which contemplates the realization of assets and the satisfaction of liabilities in the normal course of business for the twelve months following the date of these financial statements. The Company has incurred operating losses since inception. As of August 31, 2020, the Company had a working capital deficit of $30,209 and negative shareholders’ equity of $8,302,836.

8k

Section 2.6 Authorized Shares. The authorized capital of the Company consists, immediately prior to the Closing, of: (i) 8,900,000,000 shares of common stock, $0.001 par value per share, 8,272,627,462 shares of which are issued and outstanding immediately prior to the Closing; and (ii) 100,000,000 shares of preferred stock, par value $0.0001, 100,000,000 of which are designated Series A Convertible Preferred Stock and 100,000,000 of which are issued and outstanding immediately prior to the Closing. All of the outstanding shares of Common Stock and Preferred Stock have been duly authorized, are fully paid and nonassessable and were issued in compliance with all applicable federal and state securities laws.