More dilution - they're at it again
This stock will plummet today Friday - last tick up was a low volume buy.
Effective as of October 22, 2010 through October 27, 2010, the Company issued a total of 82,333,333 shares of common stock to accredited investors upon their conversion of certain previously issued convertible promissory notes. Other than the extinguishment of debt principal in the amount of $108,400, no consideration was received by the Company in the transactions. The issuance of shares of common stock were exempt from registration under the Securities Act pursuant to Section 4(2) thereof and/or Rule 506 of Regulation D under the Securities Act. The offering was not conducted in connection with a public offering, and no public solicitation or advertisement was made or relied upon by the investors in connection with the offering. After this conversion, the total number of outstanding shares of common stock is 518,127,698 shares.
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