RETIRED 250 million shares, bought back 37 mllion shares,..remember all pinksheets sell shares to get going that's the ONLY REASON THEY COME HERE..however once jeff started making money... NO MORE SHARES WERE SOLD..that,s been over 12 months now... doesn't act like any other pinksheet out there...KMAG
Reid loans the company $383K. Gets back 25M preferred at a 1:25 conversion rate. Converts 20% to 140M shares. Prior to the SEC showing up, if he could have slowly dumped the shares, he gets back $1.25M. Or a total payback over time of $6.25M against that original $383K.
The so called "buy back" might be one of the things the SEC is investigating. Ran across this interesting site.