*James N. Turek’s 15.9% represents direct and indirect ownership of common shares.
15.9%? What's wrong with that number?
1 and 2. Executive Officers and Directors are listed below with their business address.
Name Position Share Ownership/Percentage
James N. Turek President,
Chief Executive Officer and Chairman of the Board
Suite 290 3288 Eagle View Lane Lexington, KY 40509
221,936,374*
1,000,000 Class B Preferred Shares **
*James N. Turek’s 15.9% represents direct and indirect ownership of common shares.
** Mr. Turek has controlling interest of Plasticon International, Inc. with 1,000,000 Class B Preferred shares which gives him voting rights equivalent to an additional 7.3 Billion common shares. Please see footnote in regards to voting interest.
[…]
1. During the course of 2005 James N. Turek loaned Plasticon International, Inc $5,799,849.12 to execute its business plan and acquire revenue producing businesses. In return for forgiveness of the loan to Plasticon International, Inc, Mr. Turek agreed to accept Series B Preferred Shares with voting rights equal to 7.3 billion common shares
These voting rights have established James N. Turek as the controlling shareholder for Plasticon International, Inc. The loan to Plasticon International, Inc as well as the issuance of the preferred shares was accomplished through
LexReal Company LLC of which Mr. Turek is President and principal shareholder.
2. Due to the Series B Preferred shares being issued as a means of debt forgiveness and the preferred shares having an option to convert into restricted shares, should the controlling shareholder wish to exercise the option, there was therefore a need to increase the authorized shares for Plasticon International, Inc. |
