Replies to post #14689 on Energy Resource Abundance (ERAO)

[Toxic Avenger]

If management issued only 11M to themselves and 13.3 million to investor groups, they wouldn't have majority control any more.

They recorded just under a million dollars as "Proceeds from issuance of common stock". It looks like all of it, and then some, was spent during the quarter.

They gave a pretty good indication of where the 49 million issued (per the T/A)/ earmarked (per the company) would be going - "The Company has earmarked 49,087,330 shares of common stock to accommodate future needs, such as incentive compensation for employees and management."

Very strange.

[pj123]

Then they issued the "Earmarked shares" of 49,087,330
you're guess is as good as mine on this one as to who and where these will go and when....

Could this be part of the 49,087,330

The infusion of capital is in the form of a
note secured by all assets of the Company and up to 40,000,000
shares of Management’s common stock to be issued and received
ratably over a 36 month period, commencing September 27, 2011