WHAT NEWS CLAIMS ABOUT SHARES:
Significantly Increases Shareholder Value by Retiring 65 million of Its Outstanding Common Shares
TRUTH (anyone with a brain or a good beancounter) see the shares are part of simple SMOKE N MIRRORS because were ISSUED but NOT RELEASED as based on RESTRICTED STOCK AWARD…which was impossible to achieve
As of September 30, 2023, 70,000,000 shares issued to a member of the board of directors and President of the Company are restricted (the “Restricted Stock Award”) and shall be released only upon the Company achieving gross revenue in each of the calendar years ended December 31, 2023, 2024, 2025 and 2026, of not less than $100,000,000. The holder of the Restricted stock shall be entitled to vote but is not entitled to dividends or disposal. The Company valued the voting rights associated with the awards at $2,100,000 which is recorded as stock-based compensation during the year ended December 31, 2022.
WHO has VOTE CONTROL now?? I assume they issued CEO a newly made special A share for vote control OR reissued PFD class for compensation package that converts to same common share amount but WITHOUT having to hit milestones.
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