UICI's Untold Connection & History
Understanding Unity's Capital Stock
The Mystery Of Unity's Early Success
Unity's Accommodating Directors
Understanding Unity's Capital Stock
Understanding the History Behind Unity's 1244 Stock
Unity Is Not Your Average American Corporation
Why Unity Can Be Franchised But Never Duplicated
Shareholders Determine Unity's Location
Why Did Unity Incorporators Choose Franchise Acquisition in 1996?
Revisiting Unity's Internal Structure & IOP
You Must Also Remember Unity Is Internally Structured To Be A Holding Company
The Standing Committee Must Remember Unity Services Association - Unity's First LLC
How To Avoid Plagiarism When Writing Your Books
Excerpts From The Book New Age Thinking, Capitalism And Corporations
UICI Invitation Only
UICI Compliance, Operation & Governance
UICI Minutes Past & Present
UICI Agendas & Resolutions
UICI Education & Training
UICI Owner
ACDNAC - The Association
ACDNAC Members
 

Understanding

Unity's Capital Stock

 

By: George M. Sistrunk

      National Sales Director & Accommodating Director

bw90.jpeg

The Opportunity African American Women Have Been Waiting For
New Age Capitalism & New Age Corporations
You Wanted It..Now You Have It!

All shares constituting ownership of Unity International, Inc.,(hereafter called UII) including common stock and preferred stock, is considered Capital Stock. This is the amount of shares that UII, requires to be subscribed and paid, or secured to be paid, by Shareholders. This is also the amount of stock that UII may issue; the amount actually contributed, subscribed, or secured to be paid on, and finally, it is UII’s liability to Shareholders after creditors' claims, if any, have been settled.  UII’s Capital Stock also contributes to its valuation as a business enterprise. Therefore, 100,000 shares @ $500.00 a share equals a valuation of $50,000,000.00.

UII's Capital stock is distinguishable from UII’s property and assets. UII’s property value may fluctuate and may be greater or less than the original capital invested, but the Capital Stock remains intact and unaffected by the vicissitudes (ups and downs) of business.  Therefore, 100,000 shares @ $5,000.00 a share equals a valuation of $500,000,000.00.

Undivided profits, or surplus, are not part of UII’s Capital Stock portfolio; i.e., administrative fees and processing fees, although they are included in UII’s general capital or assets. UII’s Capital Stock serves only UII’s funding purposes. Since Capital Stock cannot be diverted or withdrawn to the detriment of creditors; if any, it functions as security for any creditor that may rely on UII’s existence.  It is for this reason that UII's Capital Stock can be legitimately considered as UII's trust fund.

UII's Capital Stock bears no direct relationship to any value of any other stock UII might issue.  The value of any other stock UII can issue can fluctuate after the initial or first stock offering. UII's Capital Stock also does not reflect the value of UII’s assets. Such value can also go up or down based on profits, losses, or purchases of equipment. It is important for General Partners, Affiliates, New Board Members and UII's Shareholders to understand UII’s Capital Stock remains as a ledger entry at its original price of $500.00 and $5,000.00 per share that equals a combined valuation of $550,000,000.00 at the ledger book entry value.

colorfulstonestripe.gif

Understanding Unity’s Capital Stock

That Are Designated As Non Transitional Shares

 

            Unity’s Capital Stock is divided into four (4) categories. This is another aspect of Unity’s corporate structure that was not fully understood by Dr. Joyner’s renegade administration in 1996-1997.  Unity is governed by its Bylaws and South Carolina’s and Federal laws that regulate corporate governance and activities.  The four categories of Unity’s Capital Stock are as follows.

 

(a)  Section 1244 Stock or Founders Stock – 2,000 shares.

 

(b)  Preferred Stock or Voting Stock – 49,000 shares in Phase 1 – Acquisition @ $500.00 per share.

 

(c)  Preferred Stock or Voting Stock – 100,000 shares in Phase II & Phase IV – Acquisition @ $5,000.00. 

 

(d) Non Transitional Shares or Unity’s Corporate Stock – 51,000 shares @ the ledger book entry value of $500.00 a share or $25,500,000.00. This includes the 2,000 shares of Founders Stock or Section 1244 Stock.  This controlling interest is mandated for control and effective corporate governance. {Click here to learn more about corporate control.}

 

            Currently, Unity International, Inc., does not issue common stock and there are no plans to issue common stock in the foreseeable future. All Shareholders of Unity own the corporation and its assets collectively and all Shareholders can vote. Under Unity’s Bylaws, ownership interest in Unity can only be sold back to Unity and no one else. This is a unique feature of Unity that is based on Otis Harrison’s concept of many paying a little to fund corporate enterprises and those that pay the money own the corporation. This concept is termed New Age Capitalism. {Click here to learn more about New Age Capitalism}

 

            Unity’s non transitional shares or corporate stock is only available to the Original Founders that have not violated any one of Unity’s Bylaws, South Carolina law, Federal law and/or any international law. Under Unity’s Bylaws, any Founder that is guilty of corporate malfeasance automatically loses his/her non transitional shares and he/she is automatically terminated as a Founding Member. {Click here to review & study South Carolina's Title 33 that governs corporations, partnerships & associations .}

 

These Original Founders that own the 2,000 shares of Section 1244 Stock or Founders Stock are the individuals that made the sacrifices that made Unity a functioning corporate reality and blazed the trail for others to use Unity’s funding principles to establish corporations that exist to acquire income producing assets for shareholders that own the corporation. Under Unity's Bylaws, these Original Founders will be allocated non transitional shares based on services rendered to Unity. Unlike many other ethnic groups with large populations in the United States, this is of particular importance to the African American community that own no major corporations, has no real economic power and has no country they can rely on for additional political leverage and support. Knowing how to fund corporate entities for asset acquisition that has the power to effectively reverse Black America's cycle of dependency is virtually priceless. Therefore, Unity’s Original Founders deserve the rewards for their efforts, sacrifices and services rendered to Unity and indirectly to the Black community.

 

In order to maintain Unity’s financial solvency, after the Original Founders have retired or passed into the next life, these 51,000 shares will always be owned by the corporation and can never be transitioned or sold. Therefore, under Unity's Bylaws, whenever Unity reaches the point where enough liquid capital is available, Unity’s Original Founders non transitional shares are redeemed at the ledger book value of $500.00 a share. This money is paid to them directly. If no Original Founder is alive at this point in time, the money is paid to his/her family, heirs and/or estate.

 

Under Unity’s Bylaws, no future Director and/or Board of Directors will ever again have access to Unity’s corporately owned stock. The Reason: There is only one group of Original Founders. This is why they are redeemed. Under Unity’s Bylaws, non transitional shares also exist for short term borrowing purposes. Any borrowed money must be approved by Unity’s owners - the Shareholders. Unity’s corporate stock, has a ledger book value of 25.5 million dollars ($25,500,000.00). This value will always exist as long as Unity, Inc., exists. After the Original Founders have been paid in full, Unity’s Shareholders will collectively own this controlling corporate interest of 51,000 shares. {Click here to learn more about controlling interest in a corporation. Scroll down to section (d).}

 

During the interim and early days of Unity’s growth and under Unity's Bylaws, Founding Members can borrow against non transitional shares that have been allocated to them for services rendered or for any direct cash payment/s. Under Unity's Bylaws and State and Federal law, any Founding Member that borrows against his/her allocated non transitional shares is personally liable and responsible for any money he/she borrows and any Founding Member that borrows against his/her allocated shares of non transitional stock is personally responsible to pay it back. The corporation and Shareholders have no liability relative to this personal matter. This is another aspect of Unity that Dr. Joyner’s renegade administration failed to realize. {Click here to learn more about liability for corporate debt.}

 

This is why the members of Unity's renegade Board in 1996-1997 that signed documents to borrow money had to pay it back themselves. Unity’s Shareholders were not liable, and neither was the corporation.  Non transitional shares stay with the corporation and can only be redeemed by the corporation. Creditors only have access to dividends and not Unity’s non transitional stock for debt collection. Therefore, it is best that non transitional shares be allocated for services rendered. In the event a Founder engages in malfeasance, like the renegade Joyner Administration, not only have they lost whatever money they paid in that is not refundable, they have also lost all non transitional shares that may have been allocated to him/her. Finally, each non transitional share has a vote. These votes are huge in number and only exist for Boardroom decisions. These votes can never be used against Unity’s Shareholders or owners. {Click here to download the report on a creditor's and shareholder's legal rights.}

colorfulstonestripe.gif

 

Understanding Services Rendered

 

            Black’s Law Dictionary (7th  ed. 1999) on pg 1372, defines service as “[T]he act of doing something useful for a person or company for a fee.” In order words.. Act and Do.. Under Unity’s Bylaws services rendered means any act/s and/or action/s and/or activity/ies and/or procedure/s and/or method/s that are done and/or created that help/s Unity grow and/or develop to reach its desired goals and objectives. Pursuant to Section 1244 of the IRS code, perhaps now you can understand why attending Board meetings or paying the General Partner participation fee, plus the administration fee and processing fee is not considered as services rendered. These activities are described as duties, responsibilities or obligations. 

 

            In 1996, under Unity’s Bylaws, if Unity reached its goal of 2,000 Original Founders, non transitional shares were allocated evenly. Every General Partner that actively engaged in any act/s and/or action/s and/or activity/ies and/or procedure/s and/or method/s that were done or created that helped Unity grow and/or develop to reach its desired goals and objectives would qualify for Founder’s Status under the IRS Rules. 51,000 non transitional shares divided by 2,000 Original Founders equals 25 non transitional shares for each Original Founder or a payment of $12,500.00 with 1,000 shares remaining.

 

1,000 non transitional shares times $500.00 equals $500,000.00 divided by 2,000 Original Founders equals an additional $250.00 for each Original Founder. When liquid capital was sufficient for payment, each Original Founder would receive $12,750.00. However, in the event 2,000 Original Founders could not be found that actively engaged in any act/s and/or action/s and/or activity/ies and/or procedure/s and/or method/s that were done and/or created that helped Unity grow and/or develop to reach its desired goals and objectives, and a smaller number of Original Founders could accomplish Unity’s goals and objectives by act/s and/or action/s and/or activity/ies and/or procedure/s and/or method/s, that are done and/or created, then the non transitional shares were allocated accordingly based on verifiable services rendered.

 

            In 1996 and in 2015 and beyond, $12,750.00 will still be considered an excellent return for talking to people about asset acquisition. This does not include 1/2 the finder’s fee of $200.00 or $100.00 that will be paid for referrals. General Partners that applied for hardship acceptance will have to pay $250.00 in processing and administrative fees. The finder’s fee for hardship referrals in 2015 and beyond will be $125.00. Monthly payments on hardship applicants required much more paperwork and man hours. This is why the fees were higher.

 

In 2015, General Partners in Franchise Acquisition and only the General Partners in Franchise Acquisition can still become Original Founders. There are only 1,895 shares of 1244 Stock remaining that includes 4 forfeited shares. Therefore, for Franchise Acquisition, it is still in a General Partner’s financial interest to save the participation fee of $500, the new processing fee of $100.00 and the new administration fee of $200.00 and pay it in one payment of $800.00, rather than in monthly installments.  

 

Under IRS Section 1244, paying these fees is not considered as services rendered. Therefore, in order to qualify as an Original Founder and receive non transitional shares for services rendered, a General Partner must actively engage in act/s and/or action/s and/or activity/ies and/or procedure/s and/or method/s that are done and/or created to help Unity grow and/or develop to reach its desired goals and objectives. In addition, Unlike Unity’s remaining Capital Stock, fees paid for 1244 Stock can also be used for operational expenses in addition to Franchise Acquisition. This is why General Partners in Franchise Acquisition and only General Partners in Franchise Acquisition can be considered for Original Founder Status. And only if he/she actively engages in any act/s and/or action/s and/or activity/ies and/or procedure/s and/or method/s that are done and/or created to help Unity grow and/or develop to reach its desired goals and objectives.

colorfulstonestripe.gif

 

Status of Unity’s Non Transitional Shares

 

Currently, 23,000 non transitional shares remain with a ledger book value of over 11 million dollars. 23,000 times $500.00 equals $11,500,000.00.  Madam President & CEO; Dorothy Waymer and George Sistrunk were responsible for obtaining the Arthur Treacher’s Franchise package that included an option to acquire the entire chain of over 500 company owned franchises. The pacakage was approved based on George Sistrunk's capitalization model that is based on  New Age Capitalistic concepts.  Madam President and CEO, Dorothy Waymer, also single-handedly obtained a 5 year option on the old Denny’s Restaurant or Lizard’s Thicket for Unity’s International House of Pancakes. In addition, George Sistrunk’s Transition Documents and paperwork make it possible for Unity to reach its long term goal of 2.1 Billion dollars of net worth.

 

Edward C. Graham is primarily responsible for Unity’s rapid growth to 100 General Partners that validated all of Unity's 100,000 shares that have a ledger value of $50,000,000.00 and made it possible to acquire the first Arthur Treacher's Fish & Chips. His skill at finding like minded people to be General Partners also vali-dated another 100,000 shares valued at $500,000,000.00. 100,000 x $5,000.00 per share =s $500,000,000.00 for a total valuation of $550,000,000.00. Unity’s funding and capitalization operations are based on a New Age Capitalistic concept of many paying a little to fund corporations and those that pay the money own the corporation and any acquired income producing asset/s.

 

This concept of "many paying a little" is termed New Age Capitalism. Without his vision, there would be no Unity, Inc. Unlike Black Capitalism, New Age Capitalism is the first ever long term and viable economic growth strategy that originated in the Black community that does not require government subsidies and/or federal and/or state legislation for its survival or tax breaks and/or enterprize zones like everything else earmarked for predominately Black inner cities and/or rural communities. And it originated in Orangeburg, South Carolina. New Age Capitalism and George Sistrunk's Transition Documents are for real and they were approved and accepted as a capitalization model by a major franchise chain. As you can plainly see and understand, what has been done and is still being done by these four (4) people meets the IRS’s definition and Unity’s definition for verifiable services rendered. See the chart below.

Therefore, based on verifiable facts and Black America's historical reality, it is in the best financial interest of Black people living in South Carolina and anywhere else in America, to stop wasting what little financial resources we do have and to start saving our money now; so we can collectively fund, build and own as many corporations as possible, as fast as possible and acquire as many income producing assets as soon as possible. If not for ourselves, then for our children and their future.

 
George M. Sistrunk - 803-347-6638

previous_btn.gif
next_btn.gif
Images from Google's public source - 8/2015
 
 
2015-2016 - George M. Sistrunk - All Rights Reserved.

Last updated on