Past year: ▲ 0%(0.01c – 0.01c USD)
Each one in plain English, with the numbers worked through for a shareholder.
3 Oct 2011capital raising announcement▼ Bad
On September 27, 2011 GreenChek created Series B Preferred Stock and issued 10,000 shares to Lincoln Parke, sole officer and a director, for services. Like the 2010 Series A shares, each carries 4,000 votes and is redeemable for $10.00. The filing states Parke has voting rights over 53.51% of the company, the same figure given after Series A, so it does not say whether his voting share changed.
16 Dec 2010capital raising announcement▼ BadMajor
On December 8, 2010 GreenChek sold Asher a second convertible note, $39,000 (net proceeds $36,500), due September 10, 2011 at 8%, convertible at a 45% discount to market, a steeper discount than the August note's 38%, with no prepayment right. The filing also reports that Asher took over $137,500 of principal on the earlier unsecured convertible note held by Gold Spread Trading, Vienna Management and Quartermaine, Asquith & Associates (originally $550,000, reduced to $250,000), and converted it into 15,400,000 shares at prices between $0.00077 and $0.00711. The company received no cash from those conversions beyond the debt reduction.
30 Sept 2010capital raising announcement▼ BadMajor
On September 29, 2010 GreenChek created Series A Preferred Stock and issued 10,000 shares to Lincoln Parke, its sole officer and a director, for services. Each share carries 4,000 votes, giving Parke voting rights over 53.51% of the company, and the company can redeem the shares for $10.00 each. Control of shareholder votes now sits with one person, though common holders keep their economic holdings.
26 Aug 2010capital raising announcement▼ Bad
GreenChek sold Asher Enterprises a $50,000 convertible note (net proceeds $47,000) due May 9, 2011 at 8% interest. Asher can convert into shares at a 38% discount to recent market prices, so conversion would issue more shares at below-market prices and dilute existing holders. The company also gave Asher a right of first refusal on equity financings of $250,000 or less for one year, and default interest is 22%.
