EVENTS SUBSEQUENT!!!! Well, it looks like the number of shares outstanding is really the sum of the 152,741,721 as of the statement and the 411,040,552 newly issued shares. Plugging these numbers into my Cray Super Nova, freon cooled calculator yields 563,782,273 shares outstanding as the current number.
14. Subsequent Events
F. The Company issued 411,040,552 shares of common stock in various
transactions, noted as follows:
1) The Company issued 237,846,379 shares for $6,783,233;
2) Two convertible notes each with face amounts of $73,050 (US$
50,000) were converted to 3,484,200 shares of stock each;
3) The Company's former Chief Executive Officer converted an
amount due to him of $87,660 (US$ 60,000) into 1,500,000 shares
of stock;
4) The current Chief Executive Officer was issued 34,400,000 shares
of stock as part of his compensation agreement;
5) The two principal owners of a film production company that is
working closely with the Company on several development projects
received 26,700,000 shares of stock each (53,400,000 in total) and
a $365,250 (US$ 250,000) production budget guarantee as
compensation under a “first look” agreement. One of the owners is
a board member of one of the Company's subsidiaries;
6) A prior board member received 7,500,000 shares as part of a
settlement agreement. This agreement has become the subject of a
lawsuit brought against the Company;
7) A board member and investment banker to the Company received
28,500,000 shares of stock as compensation for his consulting and
fundraising efforts;
8) Other consultants have received a total of 10,000,000 shares for
investment banking services;
9) The principal of a film production Company received 8,000,000
shares, an option for 4,000,000 more shares at $0.06 (US$ 0.04),
and a $365,250 (US$ 250,000) production budget guarantee as a
part of a “first look” agreement with the Company. This principal
joined the board of directors of the Company;
10) A director working on several film projects for the company
received an annual guarantee of $219,150 (US$ 150,000) per year
plus 3,000,000 shares and options for 3,000,000 shares with prices
ranging from $0.06 to $0.08 (US$ 0.05 and $0.07);
11) A consultant to the Company received 8,000,000 shares as
compensation for various development projects;
12) Other consultants received a combined total of 15,409,700 shares
of stock from various service agreements with the Company;
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