SK3 issued 190 million shares to pay a $4,004 bill. How many shares will they issue to pay these?
As of March 31, 2014, a total of $1,070,466 in short term convertible notes remained outstanding, on which a total of $83,437 had accrued as interest. In addition, two notes in the amount of $30,000 each, dated October 1, 2013 and January 1, 2014, payable for consulting services previously rendered, remained outstanding as long-term liabilities, on which a total of $2,236 in interest had accrued as of March 31, 2014.
There is no demand for this stock, less than $500 worth has traded today. One year ago when the share price was one penny they issued 190 million shares of stock to pay off a $4,000 over due bill. How many billions of shares will it take now to pay their current interest payments? Who will buy those shares?
$4004 dollars divided by the 190,000,000 shares issued to pay that amount equals about .000021 per share.
Buying shares in this company is a loser but loaning them money is golden!
I understand why the pumpers wont discuss this brazen theft but are there no shareholders here concerned about this? Where is the SEC?