Paul Kelley Dunne - Oct 1, 2021 Form 4 Insider Report for PhoneBrasil International Inc (ACRU)

Role
Chief Executive Officer, Director
Signature
/s/ Paul Kelley Dunne
Stock symbol
ACRU
Transactions as of
Oct 1, 2021
Transactions value $
$0
Form type
4
Date filed
10/5/2021, 04:01 PM
Previous filing
Aug 16, 2021
Next filing
Feb 14, 2022

Derivative Securities (e.g., puts, calls, warrants, options, convertible securities)

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Underlying Class Amount Exercise Price Ownership Footnotes
transaction ACRU Preferred Stock Other -1.8M -50% 1.8M Oct 1, 2021 Common Stock 54M Direct F1, F2, F3
transaction ACRU Series A Preferred Stock Other +594K 594K Oct 1, 2021 Common Stock 297M Direct F2, F4, F5
transaction ACRU Preferred Stock Other -1.13M -50% 1.13M Oct 1, 2021 Common Stock 33.8M By Novation Enterprises, LLC F1, F2, F3
transaction ACRU Series A Preferred Stock Other +371K 371K Oct 1, 2021 Common Stock 186M By Novation Enterprises, LLC F2, F4, F5
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id Content
F1 Each share of Preferred Stock converts into 30 shares of common stock.
F2 Pursuant to a reclassification exempt under Rule 16b-7, 10,000,000 shares of Preferred Stock were reclassified into and exchanged for 3,094,503.43 shares of Series A Preferred Stock.
F3 The shares of preferred stock were acquired in connection with the Share Exchange Agreement dated August 12, 2021, between the Issuer, Mikab Corporation, the shareholders of Mikab and DR Shell LLC.
F4 Each share of Series A Preferred Stock converts into 500 shares of common stock, subject to customary adjustments.
F5 The Series A Preferred Stock has no expiration date, except that it will be automatically converted immediately upon the effectiveness of a one-for-100 reverse stock split of the Issuer's issued and outstanding common stock.