Posted On: 04/16/2014 5:27:16 PM
Post# of 36729
Re: AmericanSavage #31472
Savage: Note on 04/15 fins. The iequity preferred shares have not been issued yet according to 2014 SKTO EOY. The merger agreement calls for exchange of preferred shares of AEGY (5m) and SKTO (5m) for 5m preferred shares of the Acquisition Corp. Therefore, motive for A/S increase from 750m to 1.25Bil on 01/01/2014 was apparently not conversion of preferred to common. O/S as of 04/04/2014 (04/15 8-K) stood at 697m, safely under 750m. Hence, additional 500m SKTO common are seemingly needed for a reason.
As a footnote, SKTO EOY fins state A/S raised on 01/01/2014. Agent kept an eye on Delaware activity with screenshots. To change A/S, company must file a Certificate of Amendment with Delaware. "Normal processing is approximately two to three weeks." We heard about A/S increase in March. This leads to natural question: when did SKTO send the Certificate of Amendment to Delaware?
https://corp.delaware.gov/amend09.pdf
EOY 2014 SKTO
CUSIP: 78440L 10 7
Par or Stated Value: 0.0001
Total shares authorized: 1,250,000,000 as of: 01/01/2014
Total shares outstanding: 697,106,135 as of: 12/31/2013
'The Agreement provides that Acquisition Corp. will issue one new preferred share for each two preferred shares of each of Registrant and SK3 currently issued and outstanding, and will also issue a fixed number of shares, still to be determined, of its common stock, which will be allocated to the common shareholders of Registrant and SK3 at closing of the merger. There are currently 5 million shares of Registrant issued and outstanding as Series A Voting Convertible Preferred Shares, and 5 million shares of SK3 issued and outstanding as Series A Voting Convertible Preferred Shares.'
As a footnote, SKTO EOY fins state A/S raised on 01/01/2014. Agent kept an eye on Delaware activity with screenshots. To change A/S, company must file a Certificate of Amendment with Delaware. "Normal processing is approximately two to three weeks." We heard about A/S increase in March. This leads to natural question: when did SKTO send the Certificate of Amendment to Delaware?
https://corp.delaware.gov/amend09.pdf
EOY 2014 SKTO
CUSIP: 78440L 10 7
Par or Stated Value: 0.0001
Total shares authorized: 1,250,000,000 as of: 01/01/2014
Total shares outstanding: 697,106,135 as of: 12/31/2013
'The Agreement provides that Acquisition Corp. will issue one new preferred share for each two preferred shares of each of Registrant and SK3 currently issued and outstanding, and will also issue a fixed number of shares, still to be determined, of its common stock, which will be allocated to the common shareholders of Registrant and SK3 at closing of the merger. There are currently 5 million shares of Registrant issued and outstanding as Series A Voting Convertible Preferred Shares, and 5 million shares of SK3 issued and outstanding as Series A Voting Convertible Preferred Shares.'
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