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jstick2000

08/23/07 9:57 AM

#24265 RE: jenthico #24260

Well, most of us believe Michelle. That could be a mistake I understand that. But she has stated many times and it is in writing that Hayter owns no stock whatsoever. And has no involvement in the company whatsoever. And has indemnified TSXT from their debt. Whether that indemnification sticks or not, I do not know.
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Its A Whiz

08/23/07 10:07 AM

#24266 RE: jenthico #24260

That's where the financial statement comes in. We know that the Float is only 5 mil. So we can assume that it was not tradeable stock. 50 mil in total issuable authorized shares of which balance to be used as investment capital by restricted sale to investors at a dollar. 20 mil restricted owned by CEO.

Must have been cash. IBCX traded at .0001. Any idea how many shares outstanding at that time. Even at 50 billion shares thats only 5 million dollars. I do not think that he would even get $50,000 for the shell since he would have to pay off all debt.
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mAjOr dAmAgE

08/23/07 5:10 PM

#24279 RE: jenthico #24260

They stated he wasn't a shareholder in the PRs.