ThePennyGuru
I did do some research. There was only 830 million shares paid. You forgot the 2 million in promissory notes. Since the debt obligation is likely somewhere around 85% verses the shares, it is not fair to say that the company was bought with restricted shares.
It looks like the 2 million is shareholder/director etc. loans or loans in which personal guarantees were signed.
What this signifies is that the company is a bleeding pig that cannot and hasn't been showing a profit but instead is bleeding red ink.
The two million represents a bailout of private investors.
Given the Peacock mode of operation, the 2 million in debt will turn into 10 million in free trading unrestricted stock in Section 3(10)a settlements in Sarasota Florida courtroom.
Yea, I did do my research.
Derb
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