Posted On: 07/13/2013 1:40:37 PM
Post# of 5570
Note 4. Stockholders’ Deficiency
Due from Emax Media, Inc. and Affiliates
During the years ended December 31, 2012 and 2011, the Company issued 560,222,878 and 25,000,000 shares of common stock, respectively, in settlement of obligations of Emax Media, Inc. and affiliates. The obligations were settled by the Company prior to management’s determination that the intended reverse merger was not perfected. The Company recorded the grant date fair value of the common stock, estimated based on the grant date quoted trading prices of the Company’s common stock, as contra- equity totaling $3,639,488 and $477,500 as of December 31, 2012 and 2011, respectively.
Issuance of Common Stock for Services
During the year ended December 31, 2012, the Company issued 371,675,000 shares of common stock as consideration for services rendered. The Company recorded compensation expense equal to the grant date fair value of the shares, estimated based on the grant date quoted trading prices of the Company’s common stock, totaling $6,548,730 for the year ended December 31, 2012
Big t. So would emxc owe back 560 mil plus 25 mil plus 371 mil?
Due from Emax Media, Inc. and Affiliates
During the years ended December 31, 2012 and 2011, the Company issued 560,222,878 and 25,000,000 shares of common stock, respectively, in settlement of obligations of Emax Media, Inc. and affiliates. The obligations were settled by the Company prior to management’s determination that the intended reverse merger was not perfected. The Company recorded the grant date fair value of the common stock, estimated based on the grant date quoted trading prices of the Company’s common stock, as contra- equity totaling $3,639,488 and $477,500 as of December 31, 2012 and 2011, respectively.
Issuance of Common Stock for Services
During the year ended December 31, 2012, the Company issued 371,675,000 shares of common stock as consideration for services rendered. The Company recorded compensation expense equal to the grant date fair value of the shares, estimated based on the grant date quoted trading prices of the Company’s common stock, totaling $6,548,730 for the year ended December 31, 2012
Big t. So would emxc owe back 560 mil plus 25 mil plus 371 mil?
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