This board is for all and please keep it civil....Better start reading filings PART III NARRATIVE
EcoSystem Corporation is unable to file its Quarterly Report on Form 10-Q within the required time because there was a delay in completing the adjustment necessary to close its books for the quarter.
PART IV OTHER INFORMATION
(1) Name and telephone number of person to contact in regard to this notification
(2) Have all other periodic reports required under Section 13 or 15(d) of the Securities Exchange Act of 1934 or Section 30 of the Investment Company Act of 1940 during the preceding 12 months or for such shorter period that the registrant was required to file such report(s) been filed ? If answer is no, identify report(s). [X] Yes [_] No
(3) Is it anticipated that any significant change in results of operations from the corresponding period for the last fiscal year will be reflected by the earnings statements to be included in the subject report or portion thereof? [_] Yes [X] No
If so, attach an explanation of the anticipated change, both narratively and quantitatively, and, if appropriate, state the reasons why a reasonable estimate of the results cannot be made.
EcoSystem Corporation -------------------------------------------------------------------------------- (Name of Registrant as Specified in Charter)
Has caused this notification to be signed on its behalf by the undersigned thereunto duly authorized.
Date May 15, 2008 By: /s/ Kevin Kriesler --------------------- ------------------------------ Kevin Kreisler Chairman
Just to keep it real. Here is a little more stuff you should of known. This stock is just another company in the KK web. IMO
COMPENSATION OF DIRECTORS
Our directors are reimbursed for out-of-pocket expenses incurred on our behalf, but receive no additional compensation for service as directors.
ITEM 12 SECURITY OWNERSHIP OF CERTAIN BENEFICIAL OWNERS AND MANAGEMENT
The following table sets forth information regarding the voting stock beneficially owned by any person who, to our knowledge, owned beneficially more than 5% of any class of voting stock as well as by the members of our Board of Directors and by all officers and directors as a group.
Amount and Nature of Beneficial Ownership ------------------------------------------------------------------ Name and Address(1) Series D Percentage of Of Beneficial Owner Common % of Class Preferred % of Class Voting Power ------------ ----------- ----------- ----------- ------------- <S> <C> <C> <C> <C> <C> Kevin Kreisler(2), 400,320,000 80.0% -- -- 80.00%
Glen Courtright 7,000,000 1.2% -- -- 1.2% <FN> (1) The address of each shareholder is One Penn Plaza, Suite 1612, New York, NY 10119. (2) All shares listed for Mr. Kreisler are owned of record by Viridis Capital, LLC, of which Mr. Kreisler is the sole member. </FN>
As of December 31, 2008 the Company had a convertible debenture payable to Minority Interest Fund (II), LLC ("MIF") in the amount of $432,932. This debenture was originally issued to GreenShift Corporation and was subsequently acquired by MIF during the year ended December 31, 2008. The debenture payable to MIF shall bear interest at a rate of 10% per year and matures December 31, 2010. MIF is entitled to convert the accrued interest and principal of the debenture into common stock of the Company at a conversion price of $0.0001 per share. The managing member of MIF is a relative of Kevin Kreisler, the Company's chairman.