Because he hardly owns any common stock, just abou
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Posted On: 09/16/2019 11:39:19 AM
Because he hardly owns any common stock, just about a million shares.
Remember he converted all his 1.4 billion common shares to 25 million preferred shares last year hoping nobody would notice or question what that meant.
Shareholders will just be responsible for paying off his debt in shares. IMO Berman has now structured this company so that he alone will reap any rewards.
I'm trying to figure out how Berman is receiving cash from this company. His related party transactions, which according to the financials are being accrued (but not paid) for compensation, business expenses, sales commissions, and loans are $3.33 million.
Cogosense was "paid" $100K this past quarter. Cash collected from A/R was $820K according to financials but where exactly did that money go to if he didn't pay himself back? To Cogosense to pay for product + marketing + legal?
To prove that Colorado never (or hasn't yet) happened.....
The Plan anticipates that all of the issued and outstanding stock of the new On4 Communications, Inc. Colorado would be exchanged for an equal number (1 for 1) of shares and class in Hexagon Holdings Corporation (except that, effective February 10,2019, Steve Berman surrendered to Treasury 1.4 billion of the common shares that he held). Concurrently, Hexagon Holdings Corporation intends to apply to FINRA for a new symbol and CUSIP number, and it is planned for Hexagon Holdings Corporation to become the successor operating business going forward after FINRA approval has been received. At the date of this filing however, none of the above plan has been implemented, such that the Company’s domicile remains with Delaware at this point.
Remember he converted all his 1.4 billion common shares to 25 million preferred shares last year hoping nobody would notice or question what that meant.
Shareholders will just be responsible for paying off his debt in shares. IMO Berman has now structured this company so that he alone will reap any rewards.
I'm trying to figure out how Berman is receiving cash from this company. His related party transactions, which according to the financials are being accrued (but not paid) for compensation, business expenses, sales commissions, and loans are $3.33 million.
Cogosense was "paid" $100K this past quarter. Cash collected from A/R was $820K according to financials but where exactly did that money go to if he didn't pay himself back? To Cogosense to pay for product + marketing + legal?
To prove that Colorado never (or hasn't yet) happened.....
The Plan anticipates that all of the issued and outstanding stock of the new On4 Communications, Inc. Colorado would be exchanged for an equal number (1 for 1) of shares and class in Hexagon Holdings Corporation (except that, effective February 10,2019, Steve Berman surrendered to Treasury 1.4 billion of the common shares that he held). Concurrently, Hexagon Holdings Corporation intends to apply to FINRA for a new symbol and CUSIP number, and it is planned for Hexagon Holdings Corporation to become the successor operating business going forward after FINRA approval has been received. At the date of this filing however, none of the above plan has been implemented, such that the Company’s domicile remains with Delaware at this point.
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