From what I gather, the company is:1-Changing names, officially to AdSouth;
2-Increasing from 100 million to 500 million the amount of authorized shares (shares they CAN use, at any time, to pay for services, acquire stuff, etc...);
3-Authorizing a new class of 5 million shares that will be 'preferred' shares, which means that at a certain date, will provide the holders of such shares the right to convert each single share thereof into one hundred (100) shares of fully-paid, validly issued and non-assessable shares of the Company’s Common Stock;
4-Creating a stock incentive plan... for employees or for services rendered;
5-Creating a management incentive program.... to pay themselves handsomely in shares, and have those payments tax deductible by the company.
This is what they have awarded themselves so far this year:
John P. A****o Chairman and CEO 10,000,000 1
John Cammarano President 492,611 2
Angela A****o Executive Vice President 10,000,000 1
Gary Hohman Chief Operating Officer 3,000,000
Lee Wingeier Chief Financial Officer 400,000
6-They have also filed another document pertaining to a change in Accountant.
While it may say in the filings that these things still have to be voted on... it also states, and it's very obvious by looking beloe, that the A****o couple owns 55% of all shares, and therefore take the vote without having to actually consult ALL stockholders.
John P. A****o, Jr. 48,138,300 1 55.75%
Officer, Director
299 West Camino Gardens
Suite 200
Boca Raton, FL USA
33432
John Cammarano 1,367,611 1.58%
Officer
299 West Camino Gardens
Suite 200
Boca Raton, FL USA
33432
Lee Wingeier 700,000 .81%
Officer
299 West Camino Gardens
Suite 200
Boca Raton, FL USA
33432
Gary Hohman 3,000,000 .47%
Officer
299 West Camino Gardens
Suite 200
Boca Raton, FL USA
33432
Angela E. A****o 48,138,300 1 55.75%
Officer
299 West Camino Gardens
Suite 200
Boca Raton, FL USA
33432
Tiger Fund, Inc. 17,084,098 2 19.79%
2600 Michelson Drive
17th Floor
Irvine, CA 92612
Shares of all directors 53,205,911 61.62%
and Executive officers as
a group
salemm.