Replies to post #31435 on Houmu Holdings Ltd (HOMU)

[THall]

Actually that information is 100% false unless Lazar lied to the SEC and is committing securities fraud. Its all in the 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, [color=red]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.



On September 9, 2020, the Company filed a certificate of amendment with the State of Nevada to increase its authorized share count to 9,000,000,000 shares. Based on an analysis of Nevada law, the Company believes the increase in authorized shares, retroactively, relieves the Company of any liability for over-issuance of shares. As of August 31, 2020, the Company has reduced this liability of $8,197,627 to zero with an offset to Common Stock and Retained Earnings, resulting in no impact on its Consolidated Statement of Operations[/color]

[TPADA]

Holding strong! Put in sell orders at $10 that are good to close. If the craziness here makes you anxious, just check back in a few weeks.