I first would like to say I'm not trying to start
Post# of 2198
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Posted On: 02/26/2017 9:30:19 PM
I first would like to say I'm not trying to start false rumors. I am just trying to understand as much as possible about this topic and I found it interesting. I'm not well versed on this subject and could be wrong but wanted to ask anyways.
During the course of the next twelve months if bmxc was to go through a reverse split. The CEO, having retired 150m shares of common for 50m perferred "b" shares; would these "b" shares be subject to the reverse split as such the common would?
I'm just reading over the filings and this one is the 8-knot the retirement of the shares. The filing has all The stipulations listed but then the actual form that was signed by the state of Nevada has something in there about reverse and forward splits which I found odd.
And secondly;
A company may repurchase shares of its stock from investors and then cancel, or retire, those shares. Retired shares cannot be used for employee stock option plans or any other purpose. Although the number of authorized shares remains the same, the number of outstanding shares and the number of issued shares are reduced by the number of shares retired.
On January 24, 2017, Taiwo Aimasiko, Director of the Company, offered to retire and exchanged 150,000,000 shares of Common Stock of the 200,000,000 owned by her for an aggregate 50,000,000 Series "B" Preferred Stock that would protect the voting power and ability to participate in the future of the Company, while at the same time enhance shareholders' value. As a result of this retirement and exchange of Common Stock for Series "B" Preferred Stock, the Company's issued and outstanding Common Stock was reduced from 451,640,836 to a total of 301,640,836.
Should the outstanding shares of the company actually be 351,640,836? Is that wrong?
During the course of the next twelve months if bmxc was to go through a reverse split. The CEO, having retired 150m shares of common for 50m perferred "b" shares; would these "b" shares be subject to the reverse split as such the common would?
I'm just reading over the filings and this one is the 8-knot the retirement of the shares. The filing has all The stipulations listed but then the actual form that was signed by the state of Nevada has something in there about reverse and forward splits which I found odd.
And secondly;
A company may repurchase shares of its stock from investors and then cancel, or retire, those shares. Retired shares cannot be used for employee stock option plans or any other purpose. Although the number of authorized shares remains the same, the number of outstanding shares and the number of issued shares are reduced by the number of shares retired.
On January 24, 2017, Taiwo Aimasiko, Director of the Company, offered to retire and exchanged 150,000,000 shares of Common Stock of the 200,000,000 owned by her for an aggregate 50,000,000 Series "B" Preferred Stock that would protect the voting power and ability to participate in the future of the Company, while at the same time enhance shareholders' value. As a result of this retirement and exchange of Common Stock for Series "B" Preferred Stock, the Company's issued and outstanding Common Stock was reduced from 451,640,836 to a total of 301,640,836.
Should the outstanding shares of the company actually be 351,640,836? Is that wrong?
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