yes you are correct . i did some digging into the financials . i know how he got the numbers but i dont know why it was done this way. as you stated the os 3,105,705,518 came off the year end report of 2018 yes . there were 4,505,705,518 - the 1.4 b = 3,105,705,518 we all know that but here is were it gets funky ..
who ever did the financials did not put the share reduction in and start with that number as steve stated the share reduction was from the financial report
,
https://ih.advfn.com/stock-market/USOTC/on4-c...e-to-share
Total shares outstanding: 4,505,705,518 common as of:10/31/18
https://backend.otcmarkets.com/otcapi/company...88/content
now when this report was done they did not use the numbers from the otc or the numbers from the share reduction i will show you what i mean.
from page 17 in the report i will give link at the end
Current Liabilities
The Company’s liabilities at October 31 2018 and 2017 are as follows:
Accounts payable and accrued expenses totaled $ 111,950 and $ 112,495 at January 31, 2019 and October 31,2018. Accrued interest
expense on debt payable totaled $ 86,381 and $ 83,863 at January 31, 2019 and October 31, 2018, respectively. Notes Payable totaled
$ 106,549 , unchanged at January 31, 2019 and October 31, 2018 respectively.
Convertible notes payable amounted to $ 288,633 and $ 348,633 at January 31, 2019 and October 31 2018 respectively. The decrease
of $ 60,000 during the 3 months ended January 31,2019 was achieved through the conversion of a Note, plus accrued interest, in
exchange for the issuance of 141,561,726 of the Company’s common shares on December 11,2018. Of the remaining balance of
$288,633 at January 31,2019, $228,000 represents 12 month convertible notes payable to Machiavelli Ltd LLC ($20,000), to Carpathia
LLC ( $80,000) and to J.P. Carey Enterprises, Inc. ($ 128,000) all of which carry interest at the rate of 12% annum and which are
convertible at a rate of 50% of the average market price of the Company’s common stock based on the lowest 3 intraday trading prices
quoted by OTCMarkets during the 10 day trading period prior to conversion.
now page 18 of report
5. Subsequent Events
(i) On February 14, 2019 the Company issued 85,003,928 common shares upon the exercise of a conversion by Carpathia
LLC of a $ 60,000 convertible note, plus accrued interest thereon, which at that date increased the total common shares
Issued and outstanding to 4,732,271,172.
(ii) On February 10, 2019 the Company’s Board of Directors approved the request of Mr. Steve Berman to surrender, to the
Company’s Treasury, 1.4 billion issued common shares.
https://backend.otcmarkets.com/otcapi/company...78/content
now lets look at how he got the numbers all numbers are shares
4,505,705 518 shares o/s from the 2018 anual report
141,561,726 paid to capathia and J.P. Carey Enterprises, Inc jan 31,2019
85,003,928 paid to capathia feb 10,2019
4,732,271,172 so this is what you get with out the share reduction
1,400,000,000 share reduction not calculated in the report
3,332,271,172 o/s after share reduction
so the o/s should be updated to 3,332,,271,172
i dont know why they did not use the numbers from the share reduction to do the report or why they did not include the share reduction in the report . if the report was audited and double checked this would have been picked up on.
who ever did the financials did not put the share reduction in and start with that number as steve stated the share reduction was from the financial report
,
Quote:I am happy to report that we have reduced the OS of On4 Communications by 1.4 billion shares. For the 12 months ending Oct 15 2018, we reported an OS of 4,505,705 518. The new OS is now 3,105,705,518.
https://ih.advfn.com/stock-market/USOTC/on4-c...e-to-share
Total shares outstanding: 4,505,705,518 common as of:10/31/18
https://backend.otcmarkets.com/otcapi/company...88/content
now when this report was done they did not use the numbers from the otc or the numbers from the share reduction i will show you what i mean.
from page 17 in the report i will give link at the end
Current Liabilities
The Company’s liabilities at October 31 2018 and 2017 are as follows:
Accounts payable and accrued expenses totaled $ 111,950 and $ 112,495 at January 31, 2019 and October 31,2018. Accrued interest
expense on debt payable totaled $ 86,381 and $ 83,863 at January 31, 2019 and October 31, 2018, respectively. Notes Payable totaled
$ 106,549 , unchanged at January 31, 2019 and October 31, 2018 respectively.
Convertible notes payable amounted to $ 288,633 and $ 348,633 at January 31, 2019 and October 31 2018 respectively. The decrease
of $ 60,000 during the 3 months ended January 31,2019 was achieved through the conversion of a Note, plus accrued interest, in
exchange for the issuance of 141,561,726 of the Company’s common shares on December 11,2018. Of the remaining balance of
$288,633 at January 31,2019, $228,000 represents 12 month convertible notes payable to Machiavelli Ltd LLC ($20,000), to Carpathia
LLC ( $80,000) and to J.P. Carey Enterprises, Inc. ($ 128,000) all of which carry interest at the rate of 12% annum and which are
convertible at a rate of 50% of the average market price of the Company’s common stock based on the lowest 3 intraday trading prices
quoted by OTCMarkets during the 10 day trading period prior to conversion.
now page 18 of report
5. Subsequent Events
(i) On February 14, 2019 the Company issued 85,003,928 common shares upon the exercise of a conversion by Carpathia
LLC of a $ 60,000 convertible note, plus accrued interest thereon, which at that date increased the total common shares
Issued and outstanding to 4,732,271,172.
(ii) On February 10, 2019 the Company’s Board of Directors approved the request of Mr. Steve Berman to surrender, to the
Company’s Treasury, 1.4 billion issued common shares.
https://backend.otcmarkets.com/otcapi/company...78/content
now lets look at how he got the numbers all numbers are shares
4,505,705 518 shares o/s from the 2018 anual report
141,561,726 paid to capathia and J.P. Carey Enterprises, Inc jan 31,2019
85,003,928 paid to capathia feb 10,2019
4,732,271,172 so this is what you get with out the share reduction
1,400,000,000 share reduction not calculated in the report
3,332,271,172 o/s after share reduction
so the o/s should be updated to 3,332,,271,172
i dont know why they did not use the numbers from the share reduction to do the report or why they did not include the share reduction in the report . if the report was audited and double checked this would have been picked up on.
