Something else that is very alarming TPAC took on
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Posted On: 11/21/2017 1:02:01 PM
Something else that is very alarming TPAC took on a bunch of toxic debt issuing shares at 58% below current pps at the time of conversion. Thats a huge discount even for OTC. What happened to the revenue the MRVB was supposedly generating? Why the need for toxic debt I thought the MRVB was so TPAC wouldn't have to take on more debt.
No record of the MRVB buying shares of TPAC or any revenue generated by the MRVB.
1.5 million in operational expenses for 1 quarter? Thats 4.5 million annually. Where is all that money going? TPAC has $23,873 in assets. Thats a far cry from 4.5 million spent and only $1600 in revenue.
Cash on hand end of the period $ 6,252
Fiscal year 2017:
During the nine months ended July 31, 2017, the Company issued 20 million shares of its common stock in exchange for retirement of 55 shares of its Series A Convertible Preferred Stock upon execution of a settlement agreement with a consultant. In addition, 2,657 shares of Series A Convertible Preferred Stock were converted to 2,657 million shares of common stock and 8,400,000 shares were retired and cancelled.
In March 2017, the Company issued 50,000,000 shares of common stock for consulting services rendered. The shares were valued at $30,000 based on the closing stock prices on the dates of the stock grants.
In April 2017, the Company issued 60,000,000 shares of common stock for cash of $6,000.
During the quarter ended July 31, 2017, the Company issued 623,512,079 shares of common stock upon conversion of a convertible note of $30,000.
The above issuances were exempt pursuant to Section 4(a)(2) of the Securities Act.
On May 18, 2017, the Company’s Board of Directors adopted the 2017 Stock Incentive Plan (the “Plan”). The total number of shares available for the grant of either stock options or compensation stock under the Plan is 1,860,000,000 shares, subject to adjustment. On June 12, 2017, the Company filed Form S-8 with the Securities and Exchange Commission to register the shares under the Plan.
During the quarter ended July 31, 2017, the Company issued 620 million shares of common stock under the Plan for legal services rendered. The shares were valued at $92,070 based on the closing stock prices on the dates of the stock grants.
Like it or not we have been swindled
No record of the MRVB buying shares of TPAC or any revenue generated by the MRVB.
1.5 million in operational expenses for 1 quarter? Thats 4.5 million annually. Where is all that money going? TPAC has $23,873 in assets. Thats a far cry from 4.5 million spent and only $1600 in revenue.
Cash on hand end of the period $ 6,252
Fiscal year 2017:
During the nine months ended July 31, 2017, the Company issued 20 million shares of its common stock in exchange for retirement of 55 shares of its Series A Convertible Preferred Stock upon execution of a settlement agreement with a consultant. In addition, 2,657 shares of Series A Convertible Preferred Stock were converted to 2,657 million shares of common stock and 8,400,000 shares were retired and cancelled.
In March 2017, the Company issued 50,000,000 shares of common stock for consulting services rendered. The shares were valued at $30,000 based on the closing stock prices on the dates of the stock grants.
In April 2017, the Company issued 60,000,000 shares of common stock for cash of $6,000.
During the quarter ended July 31, 2017, the Company issued 623,512,079 shares of common stock upon conversion of a convertible note of $30,000.
The above issuances were exempt pursuant to Section 4(a)(2) of the Securities Act.
On May 18, 2017, the Company’s Board of Directors adopted the 2017 Stock Incentive Plan (the “Plan”). The total number of shares available for the grant of either stock options or compensation stock under the Plan is 1,860,000,000 shares, subject to adjustment. On June 12, 2017, the Company filed Form S-8 with the Securities and Exchange Commission to register the shares under the Plan.
During the quarter ended July 31, 2017, the Company issued 620 million shares of common stock under the Plan for legal services rendered. The shares were valued at $92,070 based on the closing stock prices on the dates of the stock grants.
Like it or not we have been swindled
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(1)Trans-Pacific Aerospace (TPAC) Stock Research Links
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