debt
confidence high
sentiment negative
materiality 0.20
MetaWorks issues 920,000 shares at $0.02 to president Scott Gallagher to settle $18,400 debt
WASTE ENERGY CORP.
- Issued 920,000 shares of common stock at $0.02/share to settle $18,400 debt owed to president Scott Gallagher.
- Shares were unregistered, issued under Section 4(a)(2) and Rule 506 exemption.
- President's undiluted ownership increased from 0.35% to 1.19%; diluted from 4.45% to 5.22%.
- Board approved transaction; no formal valuation or minority approval obtained.