Replies to post #63200 on Worldwide NFT Inc (WNFT)

[Yolo]

Even so, is that really what happened here. Did he just issue himself shares? I though he used the 90k judgment amount and awarded it as shares instead of cash. Wouldn't need to hold a shareholder meeting for that, and its not shares awarded out of thin air.

The notion keeps being thrown around like is an illegal takeover, but that doesn't seem to the case for this ticker.

You are partially correct. He used the $90k judgment to justify issuing 3M common shares of WNFT (=1M of Goff, pre split).

But he also issued himself 5M preferred shares, which converts to 450M common shares and had a price of $19.8M at the time of issuance, for "CEO services."

Those are the shares that gave him voting control of the company. And he elected himself sole director without holding a shareholder meeting, then issued himself voting control without holding a shareholder meeting or having the issuance approved by any shareholders.

So it does seem to apply here.