Disclosure Statement Pursuant to the Pink Basic Disclosure
Guidelines
AFRICAN DISCOVERY GROUP, INC.
445 Park Avenue, Ninth Floor
New York, NY 10022
(212) 745-1164
www.africandiscoverygroup.com
ak@africandiscoverygroup.com
4931-Electric and other services combined
Quarterly Report
For the Reporting Period Ended May 31, 2022
As of May 31, 2022, the number of shares outstanding of our Common Stock was:
705,284,953.
As of November 30, 2021, the number of shares outstanding of our Common Stock was:
705,284,953.
As of February 28, 2021, the number of shares outstanding of our Common Stock was:
694,189,953.
Indicate by check mark whether the company is a shell company (as defined in Rule 405 of the Securities Act of
1933 and Rule 12b-2 of the Exchange Act of 1934):
Yes: ☐ | No: ☒ |
Indicate by check mark whether the company's shell status has changed since the previous reporting period:
Yes: ☐ No: ☒
Indicate by check mark whether a Change in Control1 of the company has occurred over this reporting period:
Yes: ☐ | No: ☒ |
1 "Change in Control" shall mean any events resulting in:
- Any "person" (as such term is used in Sections 13(d) and 14(d) of the Exchange Act) becoming the "beneficial owner" (as defined in Rule 13d-3 of the Exchange Act), directly or indirectly, of securities of the Company representing fifty percent (50%) or more of the total voting power represented by the Company's then outstanding voting securities;
- The consummation of the sale or disposition by the Company of all or substantially all of the Company's assets;
- A change in the composition of the Board occurring within a two (2)-year period, as a result of which fewer than a majority of the directors are directors immediately prior to such change; or
- The consummation of a merger or consolidation of the Company with any other corporation, other than a merger or consolidation which would result in the voting securities of the Company outstanding immediately prior thereto continuing to represent (either by remaining outstanding or by being converted into voting securities of the surviving entity or its parent) at least fifty percent (50%) of the total voting power represented by the voting securities of the Company or such surviving entity or its parent outstanding immediately after such merger or consolidation.
- Name and address(es) of the issuer and its predecessors (if any)
In answering this item, provide the current name of the issuer any names used by predecessor entities, along with the dates of the name changes.
African Discovery Group, Inc., a Delaware corporation, was formerly Earn-A-Car, Inc. until November 13, 2020, and was Victoria Internet Services, Inc. from October 9, 2009, the date of incorporation, until February 10, 2012. Until June 28, 2021, the Company was a Nevada corporation; on that date, the Company reincorporated to the State of Delaware. There were no changes to the Company's Charter in that reincorporation. The Company is active and in good standing in the State of Delaware.
Describe any trading suspension orders issued by the SEC concerning the issuer or its predecessors since inception:
None.
List any stock split, stock dividend, recapitalization, merger, acquisition, spin-off, or reorganization either currently anticipated or that occurred within the past 12 months:
On November 13, 2020, the Company acquired 100% of African Discovery Group, Inc., a Delaware corporation ("ADG"), in exchange for the issuance of 562,500,000 restricted common shares of the Company. Alan Kessler is now the CEO and majority shareholder of the Company. The Company's previous South African car rental business was spun off to Depassez Investments, Ltd. ("DPL"), the Company's now former principal shareholder which sold its 78,750,000 shares to Mr. Kessler, and the business of the Company going forward is the business of ADG.
The address(es) of the issuer's principal executive office:
445 Park Avenue, Ninth Floor, New York, NY 10022.
The address(es) of the issuer's principal place of business:
Check box if principal executive office and principal place of business are the same address: ☒
Has the issuer or any of its predecessors been in bankruptcy, receivership, or any similar proceeding in the past five years?
Yes: ☐ | No: ☒ |
If this issuer or any of its predecessors have been the subject of such proceedings, please provide additional details in the space below:
N/A. | |||
2) | Security Information | ||
Trading symbol: | AFDG | ||
Exact title and class of securities outstanding: | Common Stock., $0.0001 par value | ||
CUSIP: | 00832F100 | ||
Par or stated value: | $0.0001 | ||
Total shares authorized: | 1,000,000,000 | as of date: May 31, 2022 | |
Total shares outstanding: | 705,134,953 | as of date: May 31, 2022 | |
Number of shares in the Public Float2: | 33,750,000 | as of date: May 31, 2022 | |
Total number of shareholders of record: | 86 | as of date: May 31, 2022 |
2 "Public Float" shall mean the total number of unrestricted shares not held directly or indirectly by an officer, director, any person who is the beneficial owner of more than 10 percent of the total shares outstanding (a "control person"), or any affiliates thereof, or any immediate family members of officers, directors and control persons.
All additional class(es) of publicly traded securities (if any): NONE.
Transfer Agent
Name: | West Coast Securities Transfer | |
Phone: | 619-664-4780 | |
Email: | etobler@wcsti.com | |
Address: | 721 North Vulcan Ave. Suite 106 | |
Encinitas, CA 92024 | ||
Is the Transfer Agent registered under the Exchange Act?3 Yes: ☒ | No: ☐ |
- Issuance History
The goal of this section is to provide disclosure with respect to each event that resulted in any direct changes to the total shares outstanding of any class of the issuer's securities in the past two completed fiscal years and any subsequent interim period.
Disclosure under this item shall include, in chronological order, all offerings and issuances of securities, including debt convertible into equity securities, whether private or public, and all shares, or any other securities or options to acquire such securities, issued for services. Using the tabular format below, please describe these events.
- Changes to the Number of Outstanding Shares
Check this box to indicate there were no changes to the number of outstanding shares within the past two completed fiscal years and any subsequent periods: ☐
Example: A company with a fiscal year end of December 31st, in addressing this item for its quarter ended September 30, 2020, would include any events that resulted in changes to any class of its outstanding shares from the period beginning on January 1, 2018 through September 30, 2020 pursuant to the tabular format above.
Use the space below to provide any additional details, including footnotes to the table above:
Shares Outstanding as of Second Most Recent | ||||||||||
Fiscal Year End: | *Right-click the rows below and select "Insert" to add rows as needed. | |||||||||
Opening Balance | ||||||||||
Date 2/28/2020 | Common: 112,500,000 | |||||||||
Preferred: -0- | ||||||||||
Date of | Transaction | Number of | Class of | Value of | Were the | Individual/ | Reason for | Restricted or | Exemption | |
Transaction | type (e.g. | Shares | Securities | shares | shares | Entity | share issuance | Unrestricted | or | |
new | Issued (or | issued | issued at a | Shares were | (e.g. for cash or | as of this | Registration | |||
issuance, | cancelled) | ($/per | discount to | issued to | debt | filing. | Type. | |||
cancellation, | share) at | market | (entities | conversion) | ||||||
shares | Issuance | price at the | must have | -OR- | ||||||
returned to | time of | individual | Nature of | |||||||
treasury) | issuance? | with voting / | Services | |||||||
(Yes/No) | investment | Provided | ||||||||
control | ||||||||||
disclosed). | ||||||||||
11.13.2020 | New | 562,500,000 | Common | $.0001 | Yes | List I Below | Acquisition of | Restricted | 4(a)(2) | |
Issuance | stock | Subsidiary | ||||||||
3 To be included in the Pink Current Information tier, the transfer agent must be registered under the Exchange Act.
$0.0001 | |||||||||||
pv. | |||||||||||
12.24.2020 | New | 10,125,000 | Common | $.0001 | Yes | List II Below | Services | Restricted | 4(a)(2) | ||
Issuance | stock .0001 | provided | |||||||||
pv. | |||||||||||
1.31.2021 | New | 9,064,953 | Common | $.07 | No | List III | For cash | Restricted | Rule 506(c) | ||
Issuance | stock .0001 | Below | |||||||||
pv. | |||||||||||
3.1.2021 | New | 10,125,000 | Common | $.0001 | Yes | List IV | Services | Restricted | 4(a)(2) and | ||
Issuance | stock .0001 | Below | provided | Rule 701 | |||||||
pv. | |||||||||||
3.30.2021 | New | 820,000 | Common | $.10 | No | List V Below | For cash | Restricted | 4(a)(2) | ||
Issuance | stock .0001 | ||||||||||
pv. | |||||||||||
8.31.2021 | New | 150,000 | Common | $.10 | No | Brian | For Cash | Restricted | 4(a)(2) | ||
Issuance | stock .0001 | Feldman | |||||||||
p.v. | |||||||||||
Shares Outstanding on Date of This Report: | |||||||||||
Ending Balance: | |||||||||||
Date:5/31/2022 | Common: | 705,284,953 | |||||||||
Preferred: -0- | |||||||||||
List I: Acquisition of Delaware Subsidiary, November 13, 2020: 562,500,000 shares issued:
Restricted | ||||||||
Name | Instruct | Shares | Class | Par | Type | Reason | ? | Exemption |
Rage Adan | New Issuance | 250,000 | Common | $.0001 | Individual | Acq. of Sub. | Restricted | 4(a)(2) |
Brian Feldman | " | 427,500 | " | " | " | " | " | " |
Maxine Gordon | " | 1,603,125 | " | " | " | " | " | " |
Harry Green | " | 6,840,000 | " | " | " | " | " | " |
Allon Hellman | " | 855,000 | " | " | " | " | " | " |
Andrew | ||||||||
Immerman | " | 1,068,750 | " | " | " | " | " | " |
Alan Kessler | " | 421,767,000 | " | " | " | " | " | " |
Edmund | ||||||||
Kessler(1) | " | 128,250,000 | " | " | " | " | " | " |
Tanya Schaeffer | " | 106,875 | " | " | " | " | " | " |
David Siegel | " | 263,000 | " | " | " | " | " | " |
Adam Tuckman | " | 641,250 | " | " | " | " | " | " |
Florin Vladica | " | 427,500 | " | " | " | " | " | " |
List II. Section 4(a)(2) private offering for services, December 24, 2020:
Name | Instruct | Shares | Class | Par | Type | Reason | Restricted? | Exemption |
John Lowy | New Issuance | 6,750,000 | Common | $.0001 | Individual | For services | Restricted | 506 C |
Gary Yankelowitz | " | 2,375,000 | " | " | " | " | " | " |
Gary Yankelowitz C/F | ||||||||
Stella Yankelowitz | " | 1,000,000 | " | " | " | " | " | " |
List III. Rule 506(c) Private Offering, January 31, 2021: | ||||||||||||||
Name | Instruct | Shares | Class | Par | Type | Reason | Restricted? | Exemption | ||||||
Bryan D. Bittner Jr | New Issuance | 357,142 | Common | $0.0001 | Individual | For cash | Restricted | 506(c) | ||||||
Rodney Allan Cohen | " | 250,000 | " | " | " | " | " | " | ||||||
Melissa Ercolano | " | 178,571 | " | " | " | " | " | " | ||||||
Brian Feldman | " | 714,286 | " | " | " | " | " | " | ||||||
Eugene Gargiulo | " | 265,459 | " | " | " | " | " | " | ||||||
David Green | " | 214,286 | " | " | " | " | " | " | ||||||
Jonathan Halperin | " | 160,000 | " | " | " | " | " | " | ||||||
Peter Halperin | " | 72,000 | " | " | " | " | " | " | ||||||
Allon Darren Hellmann | " | 357,142 | " | " | " | " | " | " | ||||||
Peter Steven Jaffe | " | 142,857 | " | " | " | " | " | " | ||||||
Doron Katz | " | 75,000 | " | " | " | " | " | |||||||
Alan Kessler | " | 478,571 | " | " | " | " | " | " | ||||||
Gillian Beth Kessler | " | 442,857 | " | " | " | " | " | " | ||||||
Ian Krochek | " | 71,500 | " | " | " | " | " | |||||||
Darren Ross Langer | " | 142,857 | " | " | " | " | " | " | ||||||
Rodney Anthony Larue | " | 265,459 | " | " | " | " | " | " | ||||||
Brian Greg Litvack | " | 71,500 | " | " | " | " | " | " | ||||||
Timothy J. Maynard | " | 265,459 | " | " | " | " | " | " | ||||||
Timothy B. Mather | " | 265,459 | " | " | " | " | " | " | ||||||
Lawrence H. Miller | " | 71,500 | " | " | " | " | " | " | ||||||
W. Norman Milner | " | 285,714 | " | " | " | " | " | " | ||||||
Kittay Parker | ||||||||||||||
Retirement | ||||||||||||||
Accounts, LLC | " | 360,000 | " | " | " | " | IRA | " | ||||||
Justin Adam Resnick | " | 142,857 | " | " | " | " | " | " | ||||||
Alan L. Salzbank | " | 357,142 | " | " | " | " | " | " | ||||||
Jeremy Schiffman | " | 2,142,857 | " | " | " | " | " | " | ||||||
Michael B. Schnepper | " | 71,500 | " | " | " | " | " | " | ||||||
Craig Steven Sims | " | 142,857 | " | " | " | " | " | " | ||||||
Troy A. Slade | " | 207,264 | " | " | " | " | " | " | ||||||
David R. Szymansky | " | 178,751 | " | " | " | " | " | " | ||||||
Robert Taddeo | " | 100,000 | " | " | " | " | " | " | ||||||
Adam Tuckman | " | 214,286 | " | " | " | " | " | " | ||||||
List IV. Section 4(a)(2) private offering for services, March 1, 2021: | ||||||||||||||
Name | Instruct | Shares | Class | Par | Type | Reason | Restricted? | Exemption | ||||||
John Lowy | New Issuance | 8,100,000 | Common | $0.0001 | Individual | For cash | Restricted | 506(c) | ||||||
Gary Yankelowitz | " | 1,525,000 | " | " | " | " | " | " | ||||||
Gary Yankelowitz C/F | ||||||||||||||
Stella Yankelowitz | " | 500,000 | " | " | " | " | " | " |
This is an excerpt of the original content. To continue reading it, access the original document here.
Attachments
- Original Link
- Original Document
- Permalink
Disclaimer
African Discovery Group Inc. published this content on 14 July 2022 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 14 July 2022 18:33:07 UTC.