Just the proof that Globetel has provided in its own filings.
Kostro's 9,211,385 shares only equaled .85% of the outstanding shares as reported by the company on May 13, 2005 (before the split.) Yet, those same 9,211,385 shares equaled 7.25% of the outstanding shares as reported by the company in 2007.
Also of note in this filing is that Kostro controlled the vote on the reverse split.
"As of the date of the Board's approval of the reverse split, one shareholder who has a voting right equal to 50.1% of the outstanding voting Common Stock of Globetel, authorized by written consent, the Reverse Stock Split and the Authorization to amend the Articles of Incorporation of Globetel Communications Corp."
The Series B Preferred Stock issued to Caterham and its nominees will have voting rights equal to 50% plus one share of the Company's authorized shares of common stock.
Register for free to join our community of investors and share your ideas. You will also get access to streaming quotes, interactive charts, trades, portfolio, live options flow and more tools.