Lets take a closer look
The founder and President of SWCI owns approximately 297 million shares, of which approximately 273 million shares are restricted shares and have not been registered nor do any of the shares qualify for any exemption from registration with the SEC. Seon Won, the Founder and President of SW China Imports, Inc. stated that "I do not have any intention whatsoever of selling the other 24 million shares within the next 12-months, at the earliest." Therefore, 297 million shares out of a total of 500 million shares are effectively restricted and "off-the-market" by virtue of being held by founder Seon Won.
Another approximately 156,422,500 (~156 million) shares have been issued by the Company as reported in an 8k filing with the SEC on or about November 27, 2012. All of these shares are restricted except that 9,500,000 (9.5 million) shares issued to Taurus Financial Partners, LLC have been registered by Taurus Financial Partners, LLC pursuant to an S1 Filing. All of the remaining approximately 146,922,500 (~147 million) shares issued in the 8k filing are RESTRICTED SHARES and have NOT been registered for sale with the SEC, and do not qualify for any known exemption to registration, and, therefore, these restricted shares cannot and will not be sold.
273 million shares are restricted shares
~147 million shares issued in the 8k filing are RESTRICTED SHARES
If my calculation is correct that are ~420M shares.
So per the PR that wasn't sent by the Company but by Effects-10 d/b/a 10Baggas the Company has a total amount of ~420M restricted shares.
Doesn't that mean that there are already 80M NON-RESTRICTED shares?
At least that's another way to read the PR, No?
GL to everybody
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