Monday, April 06, 2015 10:32:01 PM
"Safety net" price for massive dilution dumpage of $2 million worth of free-trading shares issued under the misuse/abuse of the Section 3(a)(10) exemption from registration?
Just because the company has the right to set a "safety net" price below which ECVI (the buyer of the debt) is not supposed to sell the massive quantity of shares to be issued, doesn't mean that a safety new price has ever been set or could even be enforced if set. What recourse does the company have if shares are dumped below a supposed safety net price?
XRNG stock has been at or below no bid x $.0001 ask since before a court granted the debt settlement stipulation to issue $2 million worth of free-trading shares of XNRG stock under the Section 3(a)(10) exemption from registration. Given that Jerry, Peter, Vencedor, CM Research and others are waiting for their "debts" to be paid, it's obvious that any safety net price would have to be at or below the highest trades of $.0001.
It's my belief that ECVI is allowed to sell for whatever price they can get. What is the current share structure? How many new shares have entered the float from ECVI and the debt holders.
Shares issued to the CPN holders had been priced at a low of $.00005 but that price may have been reduced further.
There have been several days that trades are done at $.00001 with trades going at low as $.000001 (quintuple zero).
I took this screen shot after the close on 3/25/15:
Most recent trading volume and prices:
http://ih.advfn.com/stock-market/USOTC/XNRG/historical
http://stockcharts.com/c-sc/sc?s=XNRG&p=D&yr=3&mn=0&dy=0&i=p34509583441&r=1417812331029
Just because the company has the right to set a "safety net" price below which ECVI (the buyer of the debt) is not supposed to sell the massive quantity of shares to be issued, doesn't mean that a safety new price has ever been set or could even be enforced if set. What recourse does the company have if shares are dumped below a supposed safety net price?
XRNG stock has been at or below no bid x $.0001 ask since before a court granted the debt settlement stipulation to issue $2 million worth of free-trading shares of XNRG stock under the Section 3(a)(10) exemption from registration. Given that Jerry, Peter, Vencedor, CM Research and others are waiting for their "debts" to be paid, it's obvious that any safety net price would have to be at or below the highest trades of $.0001.
It's my belief that ECVI is allowed to sell for whatever price they can get. What is the current share structure? How many new shares have entered the float from ECVI and the debt holders.
Shares issued to the CPN holders had been priced at a low of $.00005 but that price may have been reduced further.
There have been several days that trades are done at $.00001 with trades going at low as $.000001 (quintuple zero).
I took this screen shot after the close on 3/25/15:
Most recent trading volume and prices:
http://ih.advfn.com/stock-market/USOTC/XNRG/historical
http://stockcharts.com/c-sc/sc?s=XNRG&p=D&yr=3&mn=0&dy=0&i=p34509583441&r=1417812331029
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