As per the May 8K: Reverse Stock Splits. Prior
Post# of 2913
Posted On: 12/30/2016 7:34:27 PM
As per the May 8K:
Reverse Stock Splits. Prior to the Closing Date, the board of directors of Solaris and Solaris Majority Voting Stockholder shall have approved and consented to reverse splits of the 2,160,000,000 authorized shares of Solaris Common Stock and the issued and outstanding shares of Solaris Common Stock (the “Reverse Stock Splits”), as a result of which, as at the Closing Date, (i) the authorized capital stock of Solaris shall be reduced on the basis of a 1-for-10 Reverse Stock Split to an aggregate of not more than 217,000,000 shares of capital stock, of which 207,000,000 shares shall be Solaris Common Stock and 10,000,000 shares shall be Solaris Preferred Stock, and (ii) the issued and outstanding Solaris Common Stock shall be reduced on the basis of a 1-for-100 Reverse Stock Split to an aggregate of approximately 18,328,978 shares of Solaris Common Stock shall be issued and outstanding (or such other number of shares as shall represent one share for each 100 shares outstanding at the time of the Reverse Stock Splits) and additional shares of Solaris Common Stock reversed for issuance under the Solaris convertible notes shall be similarly reduced on the basis of one share for each 100 shares.
Assuming nothing has changed since then, the current A/S: 2,160,000,000 and current O/S: 1,832,897,800
if the current market cap is $13.75M (from market watch) and current pps is 0.0076 that would mean roughly 1,801,000,000 which is pretty close to the # from the 8K.
Reverse Stock Splits. Prior to the Closing Date, the board of directors of Solaris and Solaris Majority Voting Stockholder shall have approved and consented to reverse splits of the 2,160,000,000 authorized shares of Solaris Common Stock and the issued and outstanding shares of Solaris Common Stock (the “Reverse Stock Splits”), as a result of which, as at the Closing Date, (i) the authorized capital stock of Solaris shall be reduced on the basis of a 1-for-10 Reverse Stock Split to an aggregate of not more than 217,000,000 shares of capital stock, of which 207,000,000 shares shall be Solaris Common Stock and 10,000,000 shares shall be Solaris Preferred Stock, and (ii) the issued and outstanding Solaris Common Stock shall be reduced on the basis of a 1-for-100 Reverse Stock Split to an aggregate of approximately 18,328,978 shares of Solaris Common Stock shall be issued and outstanding (or such other number of shares as shall represent one share for each 100 shares outstanding at the time of the Reverse Stock Splits) and additional shares of Solaris Common Stock reversed for issuance under the Solaris convertible notes shall be similarly reduced on the basis of one share for each 100 shares.
Assuming nothing has changed since then, the current A/S: 2,160,000,000 and current O/S: 1,832,897,800
if the current market cap is $13.75M (from market watch) and current pps is 0.0076 that would mean roughly 1,801,000,000 which is pretty close to the # from the 8K.
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