Replies to post #22943 on ZA Group Inc (ZAAG)

[benosufan]

Yes expert, I was being nice by not posting the total shareholder liability but thanks for posting....LOL. Look at the filings again the derivative liability is right above the total liabilities. Derivative liability is a part of the total liabilities. Maybe even more important is the total convertible debt of $958,321. We should see in tomorrows filing who ended up converting their debts into shares along with how many shares the company sold.

Between the filing and the conference call I threw in the towel. Not to mention the two days following the CC and filings release they diluted the share price from .0015 to .0005.

I'm still trying to figure out why you never sold? If you would have sold at .0002 before the split you wouldn't be down another 50% from that level today.

I find it funny that they have their "website development" as an asset worth $20,500.

[benosufan]

Congrats, no shares sold by the company in Q1. I was wrong about that but they did convert lots of debt with common shares. To me that is the same as selling shares. Company obtains cash from a noteholder who then just converts his note into shares.....essentially trading cash for shares.

You take $1,276,672 total debt retired and divide by the 134 million shares they released to pay that debt and it averages out to .0095 per share. However, we have no clue who got those shares. If you look up the info on Florida SOS, 1 preferred series D share is convertible into 1 common share.