Replies to post #23009 on Propellus Inc (PRPS)

[EastCoastCdn]

Yes there are a couple of violations I see there.

I see another major violation. I said before there were regulations regarding buybacks.

In June 2012, the Company bought back 821,812 shares of common stock from these two officers as treasury stock with the short-term notes of $104,000 which accrue interest at 6.5 percent per annum with maturity dates of less than 1 year. The accrued interest on the related party payables was $3,096 and $178, for the six months ended June 30, 2012 and the year ended December 31, 2011, respectively.

[arizuela]

Its says by majority of our shareholders. The big lot shareholders with voting rights are within the majority vote. Much like congress votes on many issues for the people. No Violations.

Arizuela

Item 5. Other Information

After the reporting period, on July 24, 2012, our board of directors and a majority of our shareholders approved an amendment to our Articles of Incorporation which increased our authorized common stock to 7.5 billion shares. In addition, our board of directors and a majority of our shareholders approved a reverse split of our issued an outstanding common stock on a basis of 1 for 500. The reverse split was effective August 10, 2012. In connection with the reverse split, our common stock was assigned the following new CUSIP number: 86802Y203.

The entire R/S was poorly done by SSOL ... it certainly appears that they violated Nevada state laws by not having a majority vote on the matter.