Okay, my browser finally allowed me to look at the financials, and here are the key points I gleened from a quick read:
https://www.otciq.com/otciq/ajax/showFinancia...?id=102704
E-mail: info@hollundindustrial.com
Website: http://www. hollundindustrial.com
Shares of Series B Preferred Stock are anti-dilutive to reverse splits, and therefore in the
case of a reverse split, are convertible to the number of Common Shares after the reverse
split as would have been equal to the ratio established prior to the reverse split. Shares of
Series B Preferred Stock, however, would participate in forward splits, and may not be
diluted by a reverse split following a forward split.
Common Shares Outstanding as of 12-31-2012: 4,189,341,272
Free Trading Common Shares as of 12-31-2012: 3,463,241,242
The Company (HIMR) has currently engaged North Cal Wood Products, Inc. for the exclusive distribution of the Company’s wood products.
The Company does not believe it will be dependent upon a few major customers for its sales.
Beneficial Owners.
There are four (4) registered shareholders with 5% or more of the Company’s issued and
outstanding shares:
Aztek Group of Companies, LTD 488,000,000
Coastal Shore Consulting, LLC 300,000,000
Coastal Consulting, LTD 260,000,000
John Haylock 350,000,000
Total 1,398,000,000
Once we have a definitive purchase order, we will start to raise the money necessary to complete our first unit (the AR-120). Once this has been completed, we have identified a few key personnel to help expand the Company into additional industries (i.e.: offshore drilling, Port Cleanup, and Military applications). We do not foresee any need to build or purchase a production facility, as we plan to contract a manufacturer to provide us with warranty and worldwide servicing that we could not provide at this stage of the company.
We plan to raise additional funds in order to manufacture the Tiger-Lynk AR-120, conduct work utilizing the Tiger-Lynk, acquire new concessions to properties, and to generally meet our future corporate obligations. We plan to raise funds through the sale of our common stock or through loans.
To fund operations for the next twelve (12) month period, we project a need for $2.3 million that we will have to raise through debt or equity. We have already identified a manufacturer with facilities designed and capable of producing the Tiger-Lynk AR-120 and providing worldwide warranty and service.
Date Signed: August 5, 2012
Terms of Agreement: Mr. Hayward as owner of the Tiger-Lynk technology would grant Hollund the exclusive rights to the technology for a period of ten years.
Date Signed: August 21, 2012
Terms of Agreement: North Cal Wood Products was granted the license to market, sell and operate the Tiger-Lynk technology for harvesting underwater timber.
Date Signed: October 1, 2012
Terms of Agreement: Cancellation of Shares Agreement whereby Aztek Group of Companies, Ltd. agreed to cancel 95% of their common shares currently owned in exchange for a share of the Company’s revenue equal to 0.0025% revenue share for the next Twenty (20) years.
The Company has experienced recurring losses from operations, has an accumulated
deficit of approximately $4,349,000 as of December 31, 2012 and has returned its rights, patents and physical components of the Tiger-Lynk underwater manipulator system to the former owners of HIRS.
Convertible Note
During July 2012, the Company entered into a $32,500 Convertible Note Agreement with Vert Capital LLC, a Florida limited liability company. The convertible note agreement bears interest at 10 percent and has a July 23, 2013 maturity date . The note may be repaid in whole or in part any time prior to maturity. Any amount of principal or interest which is not repaid when due shall bear interest at 12 percent until paid in full. Any amount of principal or interest due under the note, which is not paid when due will bear interest at 12 percent per annum from the due date thereof until the amount is paid in full. The note is convertible, at the investors’ sole discretion, into common shares at a variable conversion price, which approximates a 50 percent discount to market price over the last 50 trading days.
