Posted On: 04/29/2014 10:58:27 PM
Post# of 1149
.jpg)
Re: PHOTAHOLIC #785
Here is what I emailed Kristi about the filings.
So, the board authorized 2M shares (in 4 blocks of 500k each) on 3/31. Shares were issued at .02 as part of their employment compensation.
No WAY to know exactly what the rescission of the shares means, but really only two things IMO.
A) They were illegal and fraudulent, and when the shares were issued 3/31 and reported on the 8k filed the same date, it led to SEC suspension. Manipulating the price of shares, issuing them at .02 when they were worth more. The board is now correcting their mistakes. Interesting it is these same transactions (share based compensation) that is the thrust of the class action suits.
Or
GrowLife 2.0 wants to change the compensation, keeping shares for other uses and compensating them in other ways.
We just don't know… they have to explain these as there is no way for us to know.
Hope this helps
TM
So, the board authorized 2M shares (in 4 blocks of 500k each) on 3/31. Shares were issued at .02 as part of their employment compensation.
No WAY to know exactly what the rescission of the shares means, but really only two things IMO.
A) They were illegal and fraudulent, and when the shares were issued 3/31 and reported on the 8k filed the same date, it led to SEC suspension. Manipulating the price of shares, issuing them at .02 when they were worth more. The board is now correcting their mistakes. Interesting it is these same transactions (share based compensation) that is the thrust of the class action suits.
Or
GrowLife 2.0 wants to change the compensation, keeping shares for other uses and compensating them in other ways. We just don't know… they have to explain these as there is no way for us to know.
Hope this helps
TM
(0)
(0)
