29 Apr 2015capital raising announcement▼ BadMajor
An amended report on the Spud Shack acquisition changes the terms: 30,000,000 shares at $0.03 (still $900,000), closing October 20, 2014, rather than 90,000,000 shares at $0.01 as first reported. It adds that a 1-for-3 reverse split and name change to Monarchy Ventures took effect November 24, 2014, and that Spud Shack had a working capital deficit of $31,559 and a stockholders' deficit of $309,171 at June 30, 2014, with going-concern doubt. The filing also says 66,667 shares (not 20,000,000) were issued in January 2014 for the note, which conflicts with the earlier report; the 66,667 may reflect the reverse split, but that is an inference. The text provided is truncated.