NO ABSOLUTELY NOT...the shares are still owned by the individual shareholders and any treasury shares do not exist and are owned by no one...TELOGIS never owned a single share of RMTD ..they acquired all the assets of RMTD from the creditors who foreclosed on the assets ..let me spell it out one more time...
RMTD from 2004/2005 on develops a remote tracking business...in the course of that business they internally build assets including trademarks and patents...
RMTD's management and board of directors ,on behalf of the shareholders ,issue convertible preferred shares and convertible debentures to acquire the capitol they need to run the business.
All of these instruments ( preferred shares and debentures ) are death spiral toxic instruments ...Google death spiral securities if you are unfamiliar with the term .
RMTD's debenture holders , as a absolute condition of lending RMTD over SEVEN MILLION DOLLARS ,ask for collateral to secure their loans...RMTD gives the lenders as collateral ALL of the assets of RMTD ( patents , trademarks , customer lists , etc etc )
RMTD defaults on paying the interest and principle of the loans ..they could not repay in cash as the business was hemorrhaging obscene amounts of money and they could not repay in stock as they could not issue enough shares to keep the loans current..
RMTD's lenders than foreclose on the collateral (ALL OF RMTD's assets )...
RMTD's lenders than sell these assets to TELOGIS...TELOGIS in this purchase does not acquire a single share of RMTD..
These assets as a result of the acquisition of TELOGIS are now owned by VERIZON
If you wish to see all of this as RMTD disclosed it in their S.E.C filings go to sec.gov , hit search by filings and in the dialogue box enter remote dynamics...you can review the entire history of the company for the time they were a reporting company...the foreclosure by the debenture holders was reported to shareholders by the company...
