Replies to post #5774 on TransGlobal Assets Inc (TMSH)

[Slojab]

Well, you must know a whole lot more than me, Brit, because you're going to have to explain this to me.

when you purchase a shell, you would normally look to purchase a shell with some debt, this gives you the ability to issue shares which may be offered to a lendor in exchange for a loan to pay of some of that debt and enable working capital.

Are you saying a company can't issue shares, otherwise? Or that they can't use the issued shares for some other reason than paying off the debt they took on from the shell?

Make some sense of that to me, will you?

[lmcat]

Can you show me where/how Doug and Kent "purchased" this shell? The old President resigned and then Doug and Kent were elected new officers but by whom? Themselves and Paul Thompson?

And yes, for all intents and purposes this is a new company, new management and all cashflows and debts inherited are from the former company and management.

Paul K. Thompson was was a Director and President of Timeshare Loans since 2005.

Paul Thompson was the CEO of Timeshare Holdings on 8 Aug 2008.

Chief Executive Officer
http://www.dailyfinance.com/company/timeshare-holdings-inc/tmsh/nao/10-Q/081003032/html/sec-filings

http://nvsos.gov/sosentitysearch/CorpDetails.aspx?lx8nvq=RLjtPxp5JyE4%252fpPim8hKMw%253d%253d

Paul Thomspson IS NOT NEW and this is NOT A NEW COMPANY.

Paul K. Thompson were appointed to the BOD of TMSH on 30 Nov. 2010.
Paul Thompson, Vice President Investor Relations.

The Company has issued Promissory Notes to corporate officers, directors and investors that are also shareholders of Timeshare Holdings, Inc. The Notes bear interest at rates of 0% and are due on November 12, 2011 with a one year roll over upon payment of 10% of the balance due. The notes are secured with stock shares of the Company that would be issued in case of default. The combined amount of the notes equals $727,526.

They are really going to have to get the price of TMSH up there to pay off this debt of $727,526 with shares.

Agsin - How many shares do Doug and Kent own? How did they get them?