JC is has been a liar since we started doing business together. It took us a while to catch him and when we did his lies began to show themselves. He lied when he began to call himself CEO without any board vote or filings. He lied to us about the upfronts when we first began the purchase of the punch assets. He lied about being in 60 million homes when we where in maybe 15 million. Of course there is much more. And there are not two sides to this. These are facts.
We as a company have been through a very difficult year. After everything we went through with him our options where terrible. We where going to have to spend a 100k which we did not have as a company to fight to get our shares back.
Luckily his continued total lack of business acumen saved us when he decided that he was rescinding the entire deal under California law. This was even though we signed the contract under Florida law. His mistake gave us our opportunity to get the shares back and get him out of our lives. Of the 285 million shares he got (150 for him and 135 for the assets) We have 153 million in our hands. He still owes us 132 million shares back. He has refused up to now to send those shares back. They are stopped at the Transfer Agent but we can not cancel them. Once they are received by the TA we have to go to court and get them back or ask the party holding them to return them. That is how we got to 153 million when one of the people returned 3 million to us. We are currently working on getting the rest of the shares back. We are working on retiring the 153 million now with a matching amount of mine. People that say the shares can just be canceled or have been canceled are about as smart as JC when he rescinded a Florida contract under California law.
When these are returned the outstanding share count comes down. The idiots that talk about a RS are just that. It does not help us in anyway, We are not doing one because there is no reason to.
We have been through a great deal and have somehow found a way out. I am optimistic about our direction and try not to look back but it was really difficult what this person did to us. I am looking forward to the Punch name no longer be part of us and the symbol to change and put that behind us as well. I also look forward to this upcoming launch.
The fact that there are dirt bags out there that daily show excitement and joy over the pain we have went through makes me sick. We have been lucky to get out of the maze of deceit and lies that JC delivered to us, but we are not out of the woods yet. We need to get launched and kick start the various revenues streams we have in place. We have to solidify partnerships and alliances. We are moving the right direction but still have a lot of work to do.
Lastly, I have not, and am not selling a single share. Last time I sold a share was will over a year ago. I cannot be more clear then that.