(Total Views: 169)
Posted On: 05/08/2022 9:39:54 PM
Post# of 13818
Looks like they wanted a 1000:1 Reverse/Split badly last time
The company/board/only employee (?) waited until last day of 365 day window following the August 26, 2019 14C filing...to file the August 25, 2020 8K announcing board approved 1000:1 Reverse Split. Looks like a nice attempt to hold shareholders hostage by using every advantage they could before changing their mind. Same stuff going on right now with another black cloud hanging overhead.
That 12 month (2019-2020) 14C to 8-K ...span seemed to trigger on a tidal wave of various unpaid loans that resulted in having to give away hundreds of millions of shares as convertible debt.
A look back
https://sec.report/Document/0001493152-20-016931/
Section 3- Securities and Trading Markets
Item 3.03. Material Modification to Rights of Security Holders.
On August 25, 2020 , the Board of Directors (the “Board”) of Sun Pacific Holding Corp. (the “Company”) voted to approve a Reverse Stock Split of the Common Stock of the Company at the ratio of 1000:1 . The Board was granted such authority pursuant to Schedule 14C Information Statement as filed with the SEC on August 26, 2019 which gave the Board the option to effectuate a Reverse Stock Split of the Common Stock of the Company at the sole discretion of the Board within 12 months of said Information Statement, without the issuance of another Information Statement, within the range of 100:1 through 1000:1. The Information Statement is available at the following link:
imho
cheers
The company/board/only employee (?) waited until last day of 365 day window following the August 26, 2019 14C filing...to file the August 25, 2020 8K announcing board approved 1000:1 Reverse Split. Looks like a nice attempt to hold shareholders hostage by using every advantage they could before changing their mind. Same stuff going on right now with another black cloud hanging overhead.
That 12 month (2019-2020) 14C to 8-K ...span seemed to trigger on a tidal wave of various unpaid loans that resulted in having to give away hundreds of millions of shares as convertible debt.
A look back
https://sec.report/Document/0001493152-20-016931/
Section 3- Securities and Trading Markets
Item 3.03. Material Modification to Rights of Security Holders.
On August 25, 2020 , the Board of Directors (the “Board”) of Sun Pacific Holding Corp. (the “Company”) voted to approve a Reverse Stock Split of the Common Stock of the Company at the ratio of 1000:1 . The Board was granted such authority pursuant to Schedule 14C Information Statement as filed with the SEC on August 26, 2019 which gave the Board the option to effectuate a Reverse Stock Split of the Common Stock of the Company at the sole discretion of the Board within 12 months of said Information Statement, without the issuance of another Information Statement, within the range of 100:1 through 1000:1. The Information Statement is available at the following link:
imho
cheers
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