Yes, it was a different beast 3 years ago and a lo
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(Total Views: 797)
Posted On: 08/25/2020 4:51:31 PM
Re: hopeful123 #15470
Yes, it was a different beast 3 years ago and a lot has changed since. The previous so called business minded experts aka Bignitz and Massive Value Dr. LyingOutOfHisAssHirsch plundered the company, first by taking on a toxic loan from DGF for 5 million dollars which there isn't much to show for except them probably using it as their personal bank account and rolling around in newly leased luxury cars.
Then, when we were reaching limit of Authorized Shares (500 million) as the lender of the 5milly was converting the preferred and selling them, there were not enough of A/S, so the geniuses wanted to hose us down with their 1for400 Reverse Split and when that didn't pass, they wanted 1for700. Neither one passed.
When they finally had no money to keep the doors open or filing reports, they turned off the lights and delisted the company from QB to PinkyStinky (Non-Reporting)
What happened here (April of 2020) I don't know, how the original inventor/CEO of most of the patents Ziv Turner who was pushed away 3 years ago came to controlling the company again, maybe Milo or Bruce can shed some light here.
I'm guessing at this point, Ziv saw what Bignitz and his accomplice Dr.Hirsch did to the company and decided to save it. The company needs money to continue and in order to raise money they need shares to sell, but since we're at limit of A/S it now comes down to either do a small Reverse Split or increase the Authorized Shares from 500mil to 2.5bil which is lesser of two evils.
I just voted and I voted against Reverse Split be it 1for10 or 1for20 and voted for A/S increase to 2.5 billion, if you think about it, raising it to 2.5billion is sort of like 1for5 split, so still lower than the lowest split offered. It will dilute value of our shares, but with decent business plan and investors willing to see the company succeed can still potentially do a 360 here and allow the company to be successful, which usually means its shareholders too.
Hope this helps a bit and good luck to you.
Then, when we were reaching limit of Authorized Shares (500 million) as the lender of the 5milly was converting the preferred and selling them, there were not enough of A/S, so the geniuses wanted to hose us down with their 1for400 Reverse Split and when that didn't pass, they wanted 1for700. Neither one passed.
When they finally had no money to keep the doors open or filing reports, they turned off the lights and delisted the company from QB to PinkyStinky (Non-Reporting)
What happened here (April of 2020) I don't know, how the original inventor/CEO of most of the patents Ziv Turner who was pushed away 3 years ago came to controlling the company again, maybe Milo or Bruce can shed some light here.
I'm guessing at this point, Ziv saw what Bignitz and his accomplice Dr.Hirsch did to the company and decided to save it. The company needs money to continue and in order to raise money they need shares to sell, but since we're at limit of A/S it now comes down to either do a small Reverse Split or increase the Authorized Shares from 500mil to 2.5bil which is lesser of two evils.
I just voted and I voted against Reverse Split be it 1for10 or 1for20 and voted for A/S increase to 2.5 billion, if you think about it, raising it to 2.5billion is sort of like 1for5 split, so still lower than the lowest split offered. It will dilute value of our shares, but with decent business plan and investors willing to see the company succeed can still potentially do a 360 here and allow the company to be successful, which usually means its shareholders too.
Hope this helps a bit and good luck to you.
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