SC: Q1 2014; it's all there. IEquity Corp. holds

SC: Q1 2014; it's all there. IEquity Corp. holds 5m preferred (60% voting interest in SKTO) convertible into 60% of the O/S at time of conversion. It actually works out to nearly 8 billion O/S with conversions.

From SKTO Q1 2014

Part I

"...there were a total of 737,940,303 common shares issued and outstanding at December 31, 2013."

"...there were a total of 867,940,303 common shares issued and outstanding at March 31, 2014."

They added 130,000,00 to O/S in just 3 months ( 43.3 million per month).

Part II

"The price at which the shares were offered, and the amount actually paid to the issuer: As noted above, the shares issued during the quarter ended March 31, 2014 were issued for principal note conversions of $39,000."

$39,000 / 130,000,000 = 0.0003 per share conversion rate.

"Through the quarter ended March 31, 2014, a total $57,375 in principal of the note was transferred to unrelated third parties, leaving a balance due on the original note held by I Equity at $392,625. On January 1, 2014, an additional $600,000 in accrued consulting amounts payable to IEquity Corp. was converted into a promissory note in that amount, which remains outstanding."

"As of March 31, 2014, a total of $1,070,466 in short term convertible notes remained outstanding, on which a total of $83,437 had accrued as interest. In addition, two notes in the amount of $30,000 each, dated October 1, 2013 and January 1, 2014, payable for consulting services previously rendered, remained outstanding as long-term liabilities, on which a total of $2,236 in interest had accrued as of March 31, 2014."

$1,070,466 + 83,437 + 60,000+ 2,236 = $1,216,139 as of March 31, 2014

$1,216,139 / 0.0003 = 4,053,796,665 shares by conversion

4.053 billion + 900mil (March 31 O/S) = 4.953 billion

With IEquity Corp. preferred conversion to common (60% of O/S), fully diluted O/S:

1.60 x 4.953 = 7.925 bil