EQCO2 (CLNO) Form 10-Q, 'Related Party' Gets 500,000 Series B Preferred Shares
Posted in the Glenbrook Forum
Since: Sep 13
#1 Sep 26, 2013
EQCO2 , Inc.(CLNO)Form 10-Q can be found at http://www.otcmarkets.com/edgar/GetFilingHtml...
According to the EQCO2, Inc.(CLNO) FORM 10-Q, on August 26, 2013 the Company issued a related party 500,000 Series B Preferred shares in compliance with the terms of the Exchange Agreement with Discovery Carbon Environmental Securities Corporation of May 8, 2013 because the related party had satisfied all of the conditions of that Exchange Agreement required of the related party in order for him to receive the Series B preferred shares. Each share has 50,000 votes.
‘related party’ happens to be none other than EQCO2, Inc.(CLNO) CEO “Billy Barnwell” and the Company issued a 500,000 Series B Preferred shares in the maneuver mentioned above to give him 93% voting control of the company.
Under the Sarbanes-Oxley Act Section 302 ‘Corporate Responsibility for Financial Reports’, EQCO2, Inc.(CLNO) CEO Billy Barnwell and CFO Arnold F. Sock could face significant penalties if they certified in the FORM 10-Q that the company’s books are accurate when they are not.
Read Full Article at http://mikezaman.com/26927/stocks/ceo-and-cfo...
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