We are currently making some revisions to the ‘Current Events Baja’ page, and a new page, ‘Get To Know Baja’ is currently being added to introduce the regions of Baja where we control land and where we see possible opportunities for the company.
The share structure box on the ProGreenUS.com website has been updated to include the shares issued as described in the Subsequent Events section (Note 25) of the 10-K Annual Report for the fiscal year ending April 30, 2016 that was filed last week.
As indicated in Note 25 of the report, detailed information is provided in Notes 16 & 17 for these transactions.
9,775,171 restricted shares were issued to our largest shareholder, EIG, in connection with the initial funding (2009 Subscription Agreement), for which the company received the remainder of the final payment of $100,000 last year.
1,690,000 shares were issued to Rupes Futura AB, a Swedish investment company, due as interest payment for 2013, on the Loan Note from 2009, carried on our balance sheet. The remaining principal of $476,000 together with $132,031 of accrued interest, was assumed by EIG, for which EIG has been compensated by the issuance of Series A Preferred Stock (described in Note 25).
These transactions described in the Subsequent Events section of the audited 10-K Annual Report, form part of various actions taken over the past several months to eliminate debt, and will be reflected on the company’s balance sheet in the upcoming Quarterly Report (Q1) for the 2017 fiscal year.
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As a reminder, we have established the new twitter handle @ProGreenUS. Follow us on twitter for notification of news and updates as they occur, and view all updates in detail on our website at ProGreenUs.com.