$TPAC Indeed, plenty of shares moving around, mos
Post# of 22940
Posted On: 09/19/2016 10:05:32 PM
$TPAC Indeed, plenty of shares moving around, mostly from existing preferred shares to commons. Some of the movement appears to be assisting those assisting us, such as the consulting team, and some, which I am still in the dark on, which have a purpose of which I will, for the moment, title as undisclosed.
The undisclosed, I'm sure readers would like more clarity on, though, if they are serving a purpose with companies we are in business with and are not yet at liberty to disclose, as to not repeat the Timken issue, it may be better left as is, at least for the time being. IR may be able to answer the question in regards to those in a capacity that I am not privy to.
That said, there was also an upside to the set of excerpts you brought to attention. Such as the following:
"2. During the nine months ended July 31, 2016, we issued 29,000,000 shares of common stock to consultants in consideration of services rendered. The shares were valued at $81,600 based on the closing stock prices on the dates of the stock grants.. The issuances were exempt pursuant to Section 4(a)(2) of the Securities Act."
In our April 2016 10-Q we erroneously reported that we issued 358,000,000 shares of our common stock to consultants for services rendered during the six months ended April 30, 2016. As described above, 279,000,000 of these shares of our common stock were actually issued upon conversion of 279 shares of our preferred stock during the six months ended April 30, 2016 and were improperly allocated as shares issued to consultants for services rendered in the April 2016 10-Q. Further, 50,000,000 shares of our common stock previously described in our April 2016 10-Q as shares issued to consultants for services rendered were erroneously issued and have subsequently been cancelled
My favorite part being:
"In our April 2016 10-Q we erroneously reported that we issued 358,000,000 shares of our common stock to consultants for services rendered during the six months ended April 30, 2016. As described above, 279,000,000 of these shares of our common stock were actually issued upon conversion of 279 shares of our preferred stock during the six months ended April 30, 2016 and were improperly allocated as shares issued to consultants for services rendered in the April 2016 10-Q. Further, 50,000,000 shares of our common stock previously described in our April 2016 10-Q as shares issued to consultants for services rendered were erroneously issued and have subsequently been cancelled"
While no one wants to see an error in regards to SS, let's remember what we saw in Feb. There was a big panic over the SS issue, even in spite of the 8-k's showing retirement installments, in the end, only to be the case that Bill was honest and there was a mere clerical error.
That said, in this case, I am reading it as more favorable, at least in the context of the admission of an error. More shares were said to be converted than actually was the case. That to me, is a good sign, especially in stark contrast to the consideration of the reverse.
The tale of the tape will be in comparing the most recently disclosed SS numbers, whether on the filing or Muse feed, with the most up to date SS numbers available. I will make that request to IR after writing this to have them contact the T/A and post on Twitter most recent numbers after hearing back from the T/A. I see nothing to get excited about until then, good or bad.
As per your other request for assistance, I would contact IR about that or even NVSOS. If the WG LTD is out there, which I would guess to be the case, one of those two entities should be able to assist in clarification and should be able to link you to proof of existence.
I hope that assists in the process of deciphering. Some may see it differently and it would be great to see any other points of view on the matter.
The undisclosed, I'm sure readers would like more clarity on, though, if they are serving a purpose with companies we are in business with and are not yet at liberty to disclose, as to not repeat the Timken issue, it may be better left as is, at least for the time being. IR may be able to answer the question in regards to those in a capacity that I am not privy to.
That said, there was also an upside to the set of excerpts you brought to attention. Such as the following:
"2. During the nine months ended July 31, 2016, we issued 29,000,000 shares of common stock to consultants in consideration of services rendered. The shares were valued at $81,600 based on the closing stock prices on the dates of the stock grants.. The issuances were exempt pursuant to Section 4(a)(2) of the Securities Act."
In our April 2016 10-Q we erroneously reported that we issued 358,000,000 shares of our common stock to consultants for services rendered during the six months ended April 30, 2016. As described above, 279,000,000 of these shares of our common stock were actually issued upon conversion of 279 shares of our preferred stock during the six months ended April 30, 2016 and were improperly allocated as shares issued to consultants for services rendered in the April 2016 10-Q. Further, 50,000,000 shares of our common stock previously described in our April 2016 10-Q as shares issued to consultants for services rendered were erroneously issued and have subsequently been cancelled
My favorite part being:
"In our April 2016 10-Q we erroneously reported that we issued 358,000,000 shares of our common stock to consultants for services rendered during the six months ended April 30, 2016. As described above, 279,000,000 of these shares of our common stock were actually issued upon conversion of 279 shares of our preferred stock during the six months ended April 30, 2016 and were improperly allocated as shares issued to consultants for services rendered in the April 2016 10-Q. Further, 50,000,000 shares of our common stock previously described in our April 2016 10-Q as shares issued to consultants for services rendered were erroneously issued and have subsequently been cancelled"
While no one wants to see an error in regards to SS, let's remember what we saw in Feb. There was a big panic over the SS issue, even in spite of the 8-k's showing retirement installments, in the end, only to be the case that Bill was honest and there was a mere clerical error.
That said, in this case, I am reading it as more favorable, at least in the context of the admission of an error. More shares were said to be converted than actually was the case. That to me, is a good sign, especially in stark contrast to the consideration of the reverse.
The tale of the tape will be in comparing the most recently disclosed SS numbers, whether on the filing or Muse feed, with the most up to date SS numbers available. I will make that request to IR after writing this to have them contact the T/A and post on Twitter most recent numbers after hearing back from the T/A. I see nothing to get excited about until then, good or bad.
As per your other request for assistance, I would contact IR about that or even NVSOS. If the WG LTD is out there, which I would guess to be the case, one of those two entities should be able to assist in clarification and should be able to link you to proof of existence.
I hope that assists in the process of deciphering. Some may see it differently and it would be great to see any other points of view on the matter.
(10)
(1)Trans-Pacific Aerospace (TPAC) Stock Research Links
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