Allocation Media Entertainment Inc. acquired Web Global Holdings, Inc. in a reverse merger transaction.
December 28, 2017
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Allocation Media Entertainment Inc. acquired Web Global Holdings, Inc. (OTCPK:WEBB) in a reverse merger transaction on November 30, 2017. Pre-acquisition, there were 22,668,167 common shares outstanding and no shares of preferred shares outstanding, while after the reverse merger, the number of outstanding shares was 2,692,668,167, while 10,000,000 shares of Series A Preferred shares stood outstanding. As on November 30, 2017, a total of 1,485,000,000 common shares and 5,500,000 shares of Series A Preferred Stock were issued to Steve Slome while 1,215,000,000 common shares and 4,500,000 shares of Series A Preferred Stock were issued to Lee Mattheu Zuckerman. As of June 28, 2018, the number of outstanding shares was 3,092,676,667, of which Officers and/or Directors held 86.33% of those shares or 2,670,000,000 and the current float was 14,899,100. Pre-acquisition, Web Global Holdings had no operations, assets or liabilities prior to the reverse merger.
Pre-acquisition, Matt Billington was the sole Officer/Director, while post-acquisition, Steve Slome became President, Director, Chief Financial Officer and Chief Executive Officer of Web Global Holdings, Inc., while already being the Executive Producer, co-founder and Chief Executive Officer of Allocation Media. Also, Lee Mattheu Zuckerman became Chief Operating Officer of Web Global Holdings, Inc., while already being the Executive Producer, co-founder and Chief Operating Officer of Allocation Media. As on November 23, 2017, Matt Billington resigned as sole Officer/Director. Mountain Share Transfer, Inc. acted as the transfer agent in the transaction.
Allocation Media Entertainment Inc. completed the acquisition of Web Global Holdings, Inc. (OTCPK:WEBB) in a reverse merger transaction on November 30, 2017.
Web Blockchain Media, Inc. (WEBB) is a global multimedia news and entertainment company, which is focused on the blockchain, cryptocurrency, non-fungible tokens and Web three application developments. Webb is also focused on building out over-the-top streaming channels, reality television productions, online videos, and scripted television around the expanding crypto and blockchain universe. The Company, through its subsidiary, Allocation Media Entertainment (AME), is creating content for streaming video with television and film projects in development. AME creates and owns original programming and monetize its distribution through daytime first-run syndication television to numerous broadcasts, cable, digital, sports networks and foreign territories around the world. The Company has launched shows on its YouTube channel which can be viewed through https://www.youtube.com/c/CryptoCake.