Henderson, Nevada-based BRK, Inc. (OTC:BRKK) set off some sparks Tuesday with word of a transaction with Continuation Capital Inc.
According to CEO Daniel Serruya, "I am pleased to announce that the transaction is complete, and that Continuation Capital Inc. has paid all of the debts submitted …. We anticipate issuing approximately 104 million shares in exchange for the debt they held. The remainder of the 300 million shares that have been previously reserved will be released back to the Company and will not be issued."
BRK is owner of the Helmet Camera intellectual property (patents-pending) that make the RefCam possible.
On a tersely-worded web page, Continuation Capital says it "structures, funds and manages Reg-A equity raises, and restructures debt for publicly traded companies."
Shares in BRK shot higher by 17.3% to 34-100ths of a cent, on a massive volume of 9.2 million shares.
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