How the nasty R/S is done with insiders
"Where it all REALLY started"
https://sec.report/Document/0001493152-17-009993/
Acquisition of Sun Pacific Power Corp. and Sale of EXO:EXO, Inc. and Pizza Fusion Holdings, Inc.
On August 24, 2017, EXOlifestyle, Inc. (the “Company”) closed the Acquisition Agreement entered into with Sun Pacific Power Corp. (“SPPC”) whereby SPPC became a wholly owned subsidiary of the Company (the “Agreement”). As a result of the transaction, Mr. Randy Romano and Mr. Vaughan Dugah resigned and a new board of directors was appointed in accordance with Item 5.02 below. In addition, the Company issued exactly 284,248,605 shares of common stock of the Company to the common shareholders of SPPC . The Series 1-A Preferred Stock shareholders of SPPC were issued 976,351 shares the newly designated Series B Preferred Stock of the Company. In addition, Mr. Randy Romano and Mr. Vaughan Dugan agreed to exchange all outstanding warrants to purchase common stock of the Company for 11,685 and 11,964 shares of the Series B Preferred Stock, respectively. Following completion of this transaction, there were a total of 1,000,000 shares of the Company’s Series B Preferred Stock issued and outstanding . The Series B Preferred automatically converts into the Company’s common stock at a rate of 30.8565 shares of Common Stock for each share of Series B Preferred upon the effective date of a proposed reverse stock split of the Company’s common stock at a rate of 50:1 (the “Reverse Split”). Following the proposed Reverse Split, the Series B Preferred will convert into 30,856,553 shares of the Company’s Common Stock. The Company also issued newly designated Series C Preferred Stock to the holders of SPPC Series B Preferred Stock at a 1:1 ratio . Also in connection with the Agreement, Messrs. Romano and Dugan agreed to forgive an aggregate of $885,156 in debts the Company owed them.
The Closing of the Agreement was conditioned upon a) the entry into a Spinoff Agreement with Mr. Randy Romano and Mr. Vaughan Dugan whereby the Company agreed to sell a 100% interest in the subsidiary holdings of the Company, EXO:EXO, Inc. and Pizza Fusion Holdings, Inc. in exchange for Messrs. Romano and Dugan’s cancellation of 12,000,000 shares of the Company’s Series A Preferred Stock of the Company they own and hold .
Another Romano distraction back then. Loyalty at its best.
More solid DD on its way.
imho
cheers
"Where it all REALLY started"
https://sec.report/Document/0001493152-17-009993/
Acquisition of Sun Pacific Power Corp. and Sale of EXO:EXO, Inc. and Pizza Fusion Holdings, Inc.
On August 24, 2017, EXOlifestyle, Inc. (the “Company”) closed the Acquisition Agreement entered into with Sun Pacific Power Corp. (“SPPC”) whereby SPPC became a wholly owned subsidiary of the Company (the “Agreement”). As a result of the transaction, Mr. Randy Romano and Mr. Vaughan Dugah resigned and a new board of directors was appointed in accordance with Item 5.02 below. In addition, the Company issued exactly 284,248,605 shares of common stock of the Company to the common shareholders of SPPC . The Series 1-A Preferred Stock shareholders of SPPC were issued 976,351 shares the newly designated Series B Preferred Stock of the Company. In addition, Mr. Randy Romano and Mr. Vaughan Dugan agreed to exchange all outstanding warrants to purchase common stock of the Company for 11,685 and 11,964 shares of the Series B Preferred Stock, respectively. Following completion of this transaction, there were a total of 1,000,000 shares of the Company’s Series B Preferred Stock issued and outstanding . The Series B Preferred automatically converts into the Company’s common stock at a rate of 30.8565 shares of Common Stock for each share of Series B Preferred upon the effective date of a proposed reverse stock split of the Company’s common stock at a rate of 50:1 (the “Reverse Split”). Following the proposed Reverse Split, the Series B Preferred will convert into 30,856,553 shares of the Company’s Common Stock. The Company also issued newly designated Series C Preferred Stock to the holders of SPPC Series B Preferred Stock at a 1:1 ratio . Also in connection with the Agreement, Messrs. Romano and Dugan agreed to forgive an aggregate of $885,156 in debts the Company owed them.
The Closing of the Agreement was conditioned upon a) the entry into a Spinoff Agreement with Mr. Randy Romano and Mr. Vaughan Dugan whereby the Company agreed to sell a 100% interest in the subsidiary holdings of the Company, EXO:EXO, Inc. and Pizza Fusion Holdings, Inc. in exchange for Messrs. Romano and Dugan’s cancellation of 12,000,000 shares of the Company’s Series A Preferred Stock of the Company they own and hold .
Another Romano distraction back then. Loyalty at its best.
More solid DD on its way.
imho
cheers
