I'm trying to piece together where the 77M shares went. I've got 68M accounted for, can't find the rest.
There's this...
During June 2008, the Company raised $210,000 from the sale of an additional 42 units of securities, each unit consisting of 500,000 restricted common stock (for a total of 21,000,000 shares) and a Convertible Debenture in the principal amount of $5000 (for a total aggregate principal amount of $210,000), convertible into 500,000 additional common shares (for a total of 21,000,000 shares upon conversion).
During June 2008, the Company issued 18,500,000 of its common stock as compensation for services.
During June 2008, the Company issued 943,396 shares of its common stock in connection with a settlement of a lawsuit.
Then there's this.....
Item 2. Unregistered Sales of Equity Securities and Use of Proceeds
During the three months ended May 31, 2008, 7,300,000 shares of common stock were issued at an average price of $0.01 per share in private placements in the amount of $75,000; 3,075,000 shares were issued at an average price of $0.04 per share for consulting services in the amount of $93,000; 200,000 shares were issued at a average price of $0.02 per share for director fees in the amount of $4,000; 1,543,210 shares were issued at an average price of $0.016 per shares for the payment of loans payable in the amount of $25,000; and 13,177,067 shares were issued at an average price of $0.0158 per share for expenses paid on behalf of the company in the amount of $210,023.
During the last two business days of the quarter ending May 31, 2008, the Company received $30,000 from the sale of six (6) units of securities, each unit consisting of 500,000 restricted common stock for a total of 3,000,000 shares and a Convertible Debenture in the amount of $5000 convertible to 500,000 additional common shares. These shares were not issued during the quarter ended May 31, 2008.
They are also starting to sell the Preferred Stock:
Subsequent to May 31, 2008, the Company received $145,000 in proceeds from the sale of 30,000,000 Series B Preferred Stock of which 15 million have been issued during June 2008.
I'm wondering if these guys are politicians because they are printing shares faster than the government is printing money! |
