Traders of this now understand what "revenue" and "gross billings" mean for this business model. Do the same calculations for net earnings.
The Leon's actually are owed a lot of money, their exposure isn't that great. The son ended up with 100 million shares for $25,000 or .00025 a share. The CEO bought $28K shares for .079 back in November 2018 which brings his total to a bit over 80 million shares and is the most recent form 4 filed. The Leons are wealthy people I doubt seriously that the purchase keeps him up nights.
As of June 30, 2021 and December 31, 2020 the Company had a payable to Shawn Leon of $373,231 and $322,744, respectively. Mr. Leon is a director and CEO of the Company. The balances payable are non-interest bearing and has no fixed repayment terms.
Due to the current financial position of the Group, Mr. Leon forfeited the management fees due to him for the three and six months ended June 30, 2021 and for the year ended December 31, 2020.
Leon Developments, Ltd.
As of June 30, 2021 and December 31, 2020, the Company owed Leon Developments, Ltd. $966,538 and $930,307, respectively, for funds advanced to the Company.
Eileen Greene
As of June 30, 2021 and December 31, 2020, the Company owed Eileen Greene, the spouse of our CEO, Shawn Leon, $1,532,284 and $1,558,798, respectively. The amount owing to Ms. Greene is non-interest bearing and has no fixed repayment terms.
All related party transactions occur in the normal course of operations and in terms of agreements entered into between the parties.
"On June 1, 2020, the Company issued 100,000,000 shares to Ethan Leon, the son of our CEO in settlement of $25,000 of advances made to the Company by Eileen Greene and assigned to Ethan Leon,"
"During December 2020, the Company issued 4,000,000 Series A Preferred shares at par value of $0.01 per share to Eileen Greene, the spouse of our CEO, in settlement of $40,000 of advances made to the Company."
Item 12. Security Ownership of Certain Beneficial Owners and Management and Related Stockholder Matters.
The following table sets forth the beneficial ownership of our capital stock by each executive officer and director, by each person known by us to beneficially own more than five percent (5%) of any class of stock and by the executive officers and directors as a group. Except as otherwise indicated, all shares of common stock are owned directly and the percentage shown is based on 2,262,849,130 shares of common Stock issued and outstanding as of April 12, 2021.
Name of beneficial owner Amount and nature of beneficial ownership, including common stock Percentage of common stock beneficially owned(1)
Directors and Officers Shawn E. Leon 171,864,342 (2)
(2) Includes 500,000 shares held by Mr. Leon, a further 2,687,300 shares held by Greenestone Clinic, a company controlled by Mr. Leon, a further 60,000,000 shares owned by Leon Developments, a company controlled by Mr. Leon , 8,677,042 shares owned by Eileen Greene, Mr. Leon's spouse and 100,000,000 shares owned by Mr. Leon’s’ son.
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