Guess I should probably include the part in the filings that explains to us how Claude Eldridge avoided having to register the 100,000,000 free trading shares or having to claim ownership of those shares.
With an Outstanding share count of 200,500,187 shares those 100,000,000 shares would represent just under 50% ownership of the BION shell, but Eldridge didn't collect those 100,000,000 share in his own name. Instead he split the 100,000,000 shares up between 8 different foreign entities. By using foreign (non-US) entities as the owners of the 100,000,000 shares, Claude Eldridge was able to use Regulation S to avoid having to register the shares and to help allow the shares to be free trading. By splitting up the 100,000,000 shares into 12,500,000 shares for 8 different foreign entities he was able to keep the ownership for each foreign entity under 10% of the total outstanding share count allowing him to avoid having to claim ownership of those shares and to allow the shares to be free trading.
Is it legal? No, it is dirty as hell just like this hijacked shell.
Look out below once Eldridge and Jarvis start dumping those 100,000,000 free trading shares. And look out even more below once they dip back into that bogus debt Note again to start converting the other $67,766 of the bogus debt Note into free trading shares at $.0001/share with BION legal counsel, Owen Naccarato, and the current officers looking on and facilitating the insider enrichment scam.
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