Posted On: 08/06/2016 10:12:23 AM
Post# of 30066
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On June 13, 2016 , we had 70,574,427 shares of common stock issued and outstanding and 79,425,573 shares of common stock that were authorized but unissued
series H has 160 million shares left to convert
IMPORTANT this would not be a proportional R/S!!!! Guess that old rule no longer applies since the filed an amendment (see appendix A). So authorized would remain at 150 million even as our shares get reduced.
AND all options will transcend the split. So if GC and the directors had ability to acquire 70,000 shares now, even after we do the split, they can still get 70,000.
Shameful, but at least they'll start to own more of their company again.
series H has 160 million shares left to convert
IMPORTANT this would not be a proportional R/S!!!! Guess that old rule no longer applies since the filed an amendment (see appendix A). So authorized would remain at 150 million even as our shares get reduced.
AND all options will transcend the split. So if GC and the directors had ability to acquire 70,000 shares now, even after we do the split, they can still get 70,000.
Shameful, but at least they'll start to own more of their company again.
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