26 Apr 2019capital raising announcement▼ BadMajor
The company, now named Café Serendipity Holdings (formerly BioQuest Corp.), amended its October 8, 2018 deal with former executive Thomas C. Hemingway, who was to receive 350,000,000 new shares for forgiving about $350,000 of notes and advances. The amendment says the amount actually owed was $187,186 (accrued unpaid wages), and a further $33,894 of loans and interest was transferred to another entity and is no longer a company obligation. Even so, the company's sole director decided to honor the 350,000,000 shares already issued to Hemingway, so the share count stays hugely diluted relative to the debt cleared.