BHWF - hit my sell price of .0027 and I'm out. Looks like it's still soaring, so best of luck to those that are still in. I'm content with over 200% gains in less than 24 hours.
On April 24, 2008, Terminus, Inc. purchased 10,000,000 shares of our Series C preferred stock from Angel Acquisition Corporation (formerly Palomar Enterprises, Inc.) for $363,000. Concurrently therewith, in part to fund the purchase, Blackhawk and Terminus, Inc., as co-issuers, issued and sold to a single accredited investor: (i) a $550,000 12% secured promissory note and (ii) 500,000 shares of the Company’s Series A Preferred Stock. To secure payment of the note, Terminus pledged the 10,000,000 shares of the Company’s Series C Preferred Stock. In connection therewith, we amended the certificate of designation for our Series C preferred stock. Pursuant to the amendment, on all matters submitted to a vote of the holders of the common stock, including, without limitation, the election of directors, a holder of shares of the Series C preferred stock shall be entitled to the number of votes on such matters equal to the product of (a) the number of shares of the Series C preferred stock held by such holder, (b) the number of issued and outstanding shares of our common stock, on a fully-diluted basis, as of the record date for the vote, or, if no such record date is established, as of the date such vote is taken or any written consent of stockholders is solicited, and (c) 0.0000002. As a result, the sale of the Series C preferred stock by Angel Acquisition to Terminus effectively transferred Angel Acquisition’s control of Blackhawk to Terminus, giving Terminus approximately 89% of all votes entitled to be cast in any matter requiring or permitting a vote of stockholders.
In connection with this change in control, Steve Bonenberger resigned as our President and Chief Executive Officer, and Brent Fouch resigned as our Secretary and Chief Financial Officer. In connection therewith, the board of directors increased the number of authorized directors from two to three and appointed Frank Marshik to fill the newly created vacancy on the board. The board of directors then appointed Mr. Marshik as our President, Chief Financial Officer, and Secretary. Thereafter, Messrs. Bonenberger and Fouch resigned as directors. Their resignations as directors were not based on any disagreement with us on any matter relating to our operations, policies or practices. Mr. Marshik, as the sole remaining director, appointed Terry Ross to fill one of the two vacancies resulting from these resignations.
He's an attorney whose firm represents "The Blackhawk Fund." He gave me about 10 minutes on the phone and I cut right to the chase with regards to the rocket ship on the company's website .....
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