Red_Deer wrote: For the first time siince the 2018 RTO the latest Financial Statements actually had some real
discussion with details about what has been going on for the past 18 months.
One interesting item were details of the original Escrowed Shares__in summary 28,500,000
shares were originally held__8,000.000 have been returned and cancelled__leaving
20,500,000 outstanding__of which 5,374,030 are still held in Escrow as of April 30th.
This means that as many as 15 Million shares could have already been sold by the Company
Insiders__which could have returned about $2.5 to 3 Million to them since their cost was only
a half cent and/or 2 cents.
Here are some details__ALL of which are Cut/Paste from the Publically Available company reports and filings.
HARRYS MANUFACTURING INC.
Notes to Condensed Interim Consolidated Financial Statements
For the nine months ended April 30, 2020 (unaudited)
(Expressed in Canadian dollars)
9. Share capital and reserves
(a) Authorized:
Unlimited number of common shares without nominal or par value.
(b) Issued
As at April 30, 2020, there were 77,191,358 (July 31, 2019 - 77,916,358) issued and outstanding
common shares.
As at April 30, 2020, there were 8,061,045 (July 31, 2019 – 21,435,075) shares held in escrow. Escrow
releases will be scheduled as follows, 10% will be released upon completion of the Acquisition followed
by six subsequent releases of 15% every nine months thereafter. On October 11, 2019, 8,000,000
common shares held in escrow were returned to the Company and cancelled. During the nine months
ended April 30, 2020, 5,374,030 shares were released from escrow.
The following are the details from Pages 25 & 26 of the FORM 2A - LISTING STATEMENT dated OCTOBER 5, 2018
Originally when the RTO of Westridge took place Fall of 2018 there were 28,500,000 Escrowed Shares
for which a total of $322,500 had been paid by the Principals of the Issuer.
HIMI
For the 12-month period prior to the date of this Listing Statement, the following securities of
Harrys were sold:
Non-brokered private placement of 16,500,000 common shares of HIMI at a price of
$0.005 per unit for gross proceeds of $82,500 on November 30, 2017.
Non-brokered private placement of 12,000,000 common shares of HIMI at a price of $0.02
per unit for gross proceeds of $240,000 on December 12, 2017.
11. ESCROWED AND POOLED SECURITIES
11.1 Escrowed Securities
As required under the policies of the CSE, Principals of the Issuer will enter into an escrow
agreement as if the company was subject to the requirements of NP 46-201. Escrow releases will
be scheduled at periods specified in NP 46-201 for emerging issuers, that is, 10% will be released
upon completion of the Acquisition followed by six subsequent releases of 15% each every six
months thereafter. The form of the escrow agreement must be as provided in NP 46-201.
The table below includes the details of escrowed securities that will be held by Principals of the
Issuer upon the completion of the Acquisition:
Name of Designation of Class Number of Securities
Securityholder Held in Escrow Held in Escrow Percentage of Class
Kevin Edward Francis Common Shares 8,166,698.66 10.49%(1)
Kohanik
Ashley Francis Harry Common Shares 8,166,698.67 10.49%(1)
Harinder Singh Dhesi Common Shares 8,166,698.67 10.49%(1)
(1)
Gold Medal Performance Common Shares 1,040,000 1.29%
Corp.(2)
Michael Young(3) Common Shares 40,000 0.05%(1)
Notes:
(1) The total issued and outstanding Harrys Shares is 77,816,358.
(2) Gold Medal Performance Corp. is a company controlled by Michael Young, CFO and Director of Harrys.
(3) Michael Young is the beneficial holder of an aggregate of 1,395,000 escrowed securities (1,080,000 Issuer Shares).
The Issuer also has voluntary escrow agreements in the form provided in NP 46-201. Escrow
releases will be scheduled at periods specified in NP 46-201 for emerging issuers, that is, 10% will
be released upon completion of the Acquisition followed by six subsequent releases of 15% each
every six months thereafter.
Name of Designation of Class Number of Securities
Securityholder Held in Escrow Held in Escrow Percentage of Class
Glenn Allen Soderberg Common Shares 500,002 0.64%(1)
Aboriginal Import Export Common Shares 2,000,000 2.57%(1)
Ltd.
Larry Marsall Common Shares 250,000 0.32%(1)
Rob Gerling Common Shares 250,000 0.32%(1)