Tuesday, May 11, 2010 12:27:44 PM
(Edited 5/11/2010)
There is plenty of speculation surrounding a possible reverse merger with PFMS. Information supported by fact relative to a possible RM is detailed below.
8k on December 18, 2009 through Nevada SOS
Names Ira Frohman names him President, Secretary, Treasurer, and Director of PFMS
http://www.faqs.org/sec-filings/091218/PaperFree-Medical-Solutions-Inc_8-K/
500,000,000 Authorized shares per this filing
Certificate of Designation for 4,000,000 shares of Convertible Preferred Stock (Series D) with a par value of $1.00 per share.
Filed February 2, 2010
State Of Nevada
$175.00 filing fee
http://www.authorized-shares.com/nv_docs/pfms.pdf
Interpretation by Iglatend ((IHUB user): PFMS has created 4 million series D shares. Reading the filing closely gives me the impression a reverse merger is definitely happening here.
A very important point is the conversion rate is 1 series D to 1 common. Meaning they are NOT getting a millions of common shares to dump if they choose to convert. The valuation on these series D shares is $1.00/share. They would never convert unless PFMS is trading over a dollar a share. Why issue these? Read the info regarding preference to the Series D shares in the event of a merger. They will get paid well if/when the merger takes place. This will not hurt the common shareholder. After reading this filing, I am more confident a reverse merger is going to happen and happen in a matter of weeks at this point. This is all my opinion and my own interpretation. Read the filing and see what you think. It all adds up now though.
SK3 Group (SKTO) - Ira Frohman was the President, Secretary, Treasurer, Director of SK3, which was acquired by Healthcare of Today (HOT) on 12/15/2009
Here is a timeline of how the deal with SKTO and HOT went down...
12/10/2009 6:09PM SK3 Announces That Healthcare of Today Has Acquired a Controlling Interest in the Company
12/14/2009 10:52AM SK3 Group to Move Headquarters to California
12/15/2009 12:27PM SK3 Group, Inc. Signs Letter of Intent with HOT
Then, just a few days later....
12/18/2009 4:58PM Current report filing (8-K) lists Ira Frohman as President and Director
http://ih.advfn.com/p.php?pid=nmona&cb=1271786098&article=40832203&symbol=NO^PFMS
Interpretation by DenverBruin (IHUB User): Two Days after the LOI between Healthcare of Today and SK3/Ira Frohman is signed, Frohman becomes the new Director, President, Secretary, and Treasurer of PFMS. (Yes, two days after the LOI, see filing). Frohman was apparently very busy this week... I guess he couldn't wait until after the holidays/New Year to get this done... Two days after his LOI with HOT is signed he has the PFMS shell all to himself.
Possible Insider buys at BID on Tuesday, May 4 2010
32 million shares trade at the bid in less than one hour. Huge volume increase was postulated by Bill The Thrill as follows... "Action at bid may mean institutional buy :) B/A above last sale encourages ask slapping. If a stock dilutes, it sucks up a ton of shares at the ask with an institutional MM like VNDM and DOMS (not NITE or UBSS) and won't move the price. I think this might be a sign of .014/sh :) When the MM's keep the price up on a bunch of sells with little buying, that's a good sign.
The company is NOT SELLING; if anything they're buying.
Load them up and thank me later! I'm all in 2MM...
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