Replies to post #71096 on Apple Rush Company Inc (APRU)

[hedge_fun]

Until this matter is cleaned up there will……..

not be a RS unless FINRA was asleep at the wheel. See what’s in bold below.

On March 4, 2014 LiveWire Ergogenics, Inc. (the “Company”) entered into a Memorandum of Understanding to acquire a controlling stake in Apple Rush Company and Rushnet, Inc. Pursuant to the MOU, the Company will issue 2.5 million shares of its common stock to acquire 7,252,034,443 of Apple Rush shares (OTC: APRU). Upon issuance of the 7,252,034,443 shares, the Company will own 60% of Apple Rush’s outstanding common stock which will total 12,086,724,072 shares following the transaction. In addition, the Company will issue 2.5 million shares of its common stock, and pay $50,000, to Robert Corr, founder and controlling shareholder (prior to the transaction) of Apple Rush and Rushnet, Inc., to acquire Mr. Corr’s super-majority voting preferred stock in Apple Rush. Each Series A Preferred share of Apple Rush is valued at $1.00 dollar and is convertible into Apple Rush common stock at a 20% discount to the average closing bid price for the ten (10) trading days prior to conversion. Following the transaction, the Company intends to operate Apple Rush Company under its Livewire Herbaceuticals division and continue to operate the Apple Rush as a publicly traded company.

https://www.otcmarkets.com/filing/html?id=9845828&guid=H1_-kKN3lYnSJth#EX101_HTM

At the end of March 2014, Corr appointed Tony Interim CEO and Sole Director of Apple Rush as Corr still had the majority position in APRU.

In April 2014 Tony, as Sole Director filed a Designation with TX SOS for a class of Preffered B shares, which cancelled out the super majority voting shares of the Preffered A shares. As of today, both the A and B’s still exist and FINRA would need to see paperwork showing a vote tally approving the corporate action….ie a RS.

The Preferred B Designation gives the owner of 75 AS a 52.5% majority vote. See below.

Until either all the A or B’s are cancelled and one class is dissolved, a RS is highly unlikely, which is why Tony has said there are no plans to do one.

LVVV found out about the Preferred B shares after they closed on the acquisition of APRU and sometime later the deal was cancelled.