trding
5 years ago
Purchase of Leeward
https://www.otcmarkets.com/filing/html?id=7304525&guid=j2-IUW-VfX8ERth
On May 28, 2010, we entered into and closed a share exchange agreement with Leeward Group, Inc. a Delaware corporation, and the shareholders of Leeward. Pursuant to the terms of the share exchange agreement, we have acquired all of the issued and outstanding shares of Leeward’s common stock in exchange for the issuance by our company of 65,000,000 shares of our common stock to the shareholders of Leeward.
As of this date, Leeward has two operating subsidiaries, Sangamon Associates, Inc. and Flagship Insurance Agency, Inc.
Both subsidiaries still exist with original officers of pcpz. Will they revive PCPZ at some point? Not sure.
trding
5 years ago
Still looking, not sure how the O/S went from 100M to 500M, it happened after it went dark. I don't believe those shares over 100M could be it the float after going dark. Float listed at 43M on otcmarkets, but a 2010 number. This popped over through just Twitter posts. I bought 200k at .0022 and put a order at .0015 Friday, as lotto in case of bounce. Just doing a little research, I've traded bankrupt Q stock, subpenny, with company gone. Looks more interesting with company still around. We will see what happens monday.
NOTE 7 – EQUITY TRANSACTIONS
The Company is authorized to issue 100,000,000 shares of common stock. As of March 31, 2011 there were 100,000,000 shares issued and outstanding.
On May 28, 2010, The Company entered into a share exchange agreement with Leeward Group, Inc. a Delaware corporation, and the shareholders of Leeward. Pursuant to the terms of the share exchange agreement, the Company has acquired all of the issued and outstanding shares of Leeward’s common stock in exchange for 65,000,000 shares of the Company’s common stock. In conjunction with this agreement, the Company issued 11,989,775 common shares to HE Capital as compensation for services rendered to the Company. The Company had 23,010,225 common shares issued and outstanding as of May 28, 2010 immediately prior to the closing of the share exchange agreement, and 100,000,000 shares issued and outstanding upon closing of the share exchange agreement.
As of the closing date, the former shareholders of Leeward Group, Inc. held 65% of the issued and outstanding common shares of the Company. The issuance of the 65,000,000 common shares to the former shareholders of Leeward Group, Inc. was deemed to be a reverse acquisition for accounting purposes. Leeward Group, Inc., the acquired entity, is regarded as the predecessor entity as of May 28, 2010. The number of shares outstanding and per share amounts has been restated to recognize the recapitalization. All comparative financial data in these financial statements is that of Leeward Group, Inc.
PENNINGTON, N.J., Aug. 25, 2010 (GLOBE NEWSWIRE) -- Principle Security International, Inc. (OTCBB:PCPZ), through its wholly owned subsidiary Sangamon Associates, Inc., announced today that their Franchised Hotel/Motel Umbrella Program is now available in all 50 states. The program is backed by an "A" rated insurance company and it offers commercial umbrella insurance policies to limited-service, franchised hotels and motels. The program is open to all agents.
According to Bill Cleave, President of Sangamon, "Our goal with this program was to be able to provide a comprehensive umbrella product from a solid carrier in all states. Further, we designed the product to provide straight-forward pricing via a streamlined submission process. The feedback we have received from agents thus far has been extremely positive."
Mr. Cleave encourages agents to learn more about the program at the program's website: www.platinumleisure.com. The website includes a wealth of information on the program, as well as a "quick indication" engine that provides a non-binding pricing indication in seconds.
Sangamon Associates, Inc. is part of the Leeward Group of Companies. Sangamon works with associations to develop specialty insurance programs for their particular industry or insurance need. The Franchise Hotel Umbrella Program is only one of the programs offered by the Company.
Principle Security International, Inc. through its wholly owned subsidiaries Leeward Group, Inc., Sangamon Associates, Inc., Flagship Insurance Agency, Inc., and Leeward Insurance Agency, Inc. operates a full-service insurance agency and consulting firm serving businesses and individuals throughout the Northeastern United States.
The Company is based in Pennington, New Jersey and it has five retail locations. Three of the locations are in New England while the other two are in the Mid-Atlantic. With licenses in all 50 States, the Company offers Property & Casualty, Life & Health and specialty insurance programs for business, individuals, associations and groups throughout the United States.
More connection to umbrella
https://www.hotelexcess.com/
https://www.sangamonassociates.com/
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