Email from shortsinthesand an excerpt: Looks like the OS has been accounted for and things should start to change:
The Interactive daily Signori Basin Mining current events....
Good Morning SBMI share holders and investors.. I see the confusion has deteriorated our confidence in what is the real story here? Lets see If I can shed some light on what is happening and the current situation of the Share structure?
First to get everything out in the open We now know the issued and outstanding is 705,151,794 as of April 30,2007.. The current TA is First American 602-485-1346.. This TA was inherited with the shell and Joint Venture.. It goes back through many of the previous names and symbols of the previous management involved!
Mark wants open and transparent relationship with the share holders. He was shocked as the rest of us when he discovered the reality of the issued and outstanding shares.. Marc has agreed to change TA's and we have researched this process. The New one being considered is called Corporate Stock Transfer in Denver Colorado 303,282,4800. This is a very good agent for the company and reflects Marks desire to resolve the current issues.
Corporate Stock Transfer will disclose the issued and outstanding to any person that calls and requests this info as it is considered Public information and required by the FCC Rules and regulations. If fact any TA that refuses to disclose this information must provide a point of contact person from the company that is required to tell you.. Many companies will still refuse to tell you and be in a violation of your public rights to know this critical public information.
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The process to change a TA is relatively straight forward and should take up to one month from start to Finnish..
1. First a company must send the current TA a notice ten days in advance of when he wants to have the Transfer done...
2. Next They fill out the paperwork at the new TA they intends to use.
3. The new TA then sends the instructions to the old TA where to send the documents. And they must notify the DTC so they send the new clearing sales and buys to the new TA.
The whole process takes 2-4 weeks tops after the 10 day notice if properly served.. So your looking at about a one month period.
Also all TA's are required by the FCC to give out the total out standing and issued shares. The TA's that don't or require you to call the company then the company must give you the information. It is public information. Here is some more information on TA's...
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Transfer Agents
Note: See Electronic Filing of Transfer Agent Forms
Transfer agents record changes of ownership, maintain the issuer's security holder records, cancel and issue certificates, and distribute dividends. Because transfer agents stand between issuing companies and security holders, efficient transfer agent operations are critical to the successful completion of secondary trades. Section 17A(c) of the 1934 Act requires that transfer agents be registered with the SEC, or if the transfer agent is a bank, with a bank regulatory agency. There is no SRO that governs transfer agents. The SEC therefore has promulgated rules and regulations for all registered transfer agents, intended to facilitate the prompt and accurate clearance and settlement of securities transactions and that assure the safeguarding of securities and funds. The rules include minimum performance standards regarding the issuance of new certificates and related record keeping and reporting rules, and the prompt and accurate creation of security holder records and the safeguarding of securities and funds. The SEC also conducts inspections of transfer agents.
http://www.sec.gov/divisions/marketreg/mrtransfer.shtml
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Ok enough about TA's lets move on and see if we can restore our investor confidence in the future of this company.. There are very many angry and upset share holders after the recent events causing much criticism of our company.. Rightfully so under the circumstances and now we need to see where all the dust falls.
There was a big change in the yesterdays trading volume... The massive selling from the previous people that put the deal together seemed to stop. It was now selling of share holders that felt betrayed and just want no more part of this company.. It looks like a base is forming here and in a few more trading days we should be able to get a handle on the direction this will go...
Lets take a look at the total trading for the month of April:
5/1/07 0.0009 0.001 0.0006 0.0009 27,945,980 0.0001 -
4/30/07 0.0014 0.0015 0.001 0.001 80,848,659 0.0004 -
4/27/07 0.0018 0.0019 0.0012 0.0014 47,291,532 0.0004 -
4/26/07 0.002 0.0025 0.0017 0.0018 30,736,429 0.0001 -
4/25/07 0.0015 0.0019 0.0011 0.0019 26,708,859 0.0007
4/24/07 0.002 0.002 0.0011 0.0012 39,070,002 0.0002 -
4/23/07 0.003 0.003 0.0013 0.0014 58,812,143 0.0015 -
4/20/07 0.0026 0.0045 0.0024 0.0029 42,780,388 0.0003
4/19/07 0.002 0.0045 0.0015 0.0026 38,939,481 0.0006
4/18/07 0.005 0.005 0.0008 0.002 37,391,604 0.002 -
4/17/07 0.014 0.015 0.004 0.004 19,797,793 0.009 -
4/16/07 0.035 0.035 0.011 0.013 4,758,028 0.002
4/13/07 0.037 0.04 0.011 0.011 1,229,500 0.029
4/12/07 0.05 0.05 0.04 0.04 170,700 0.01 -
4/11/07 0.035 0.07 0.035 0.05 686,727 0.015
4/10/07 0.035 0.035 0.035 0.035 100 – –
4/9/07 0.025 0.035 0.025 0.035 27,150 – –
4/5/07 0.035 0.035 0.035 0.035 40,400 0.005
4/4/07 0.035 0.035 0.03 0.03 34,999 0.005 -
4/3/07 0.031 0.035 0.02 0.035 55,600 – –
4/2/07 0.035 0.035 0.031 0.035 44,200 0.005 -
Roughly 406 million shares were traded.. Mark has Stated he hasn't sold any shares and has approximately 200 million and his affiliates hold approximately another 100 million So It appears that most of the selling is over? Mark is not issuing any shares or increasing the issued and outstanding at this time and will be informing the public of any changes in the future!
Right now his Attorney and him are looking to take the problem and see how they can work around this to get the production started as fast as they can to bring in revenue.. We can all see that it has caused much distrust in the company as we see what is being said publicly over the Internet... We still don't have a 5-10 billion share company here and the total Authorized count stands at 900 million.... Certainly I don't think we will remain in the triple zero levels for very long....
I can see people are also even making comments about my own involvement in this stock and I would like to make a few things clear here as well.. If anyone has followed me over the last couple of years I have never had any problem voicing my concern when I see or think a stock is a possible Scam and trying to mislead the public investing community... I have a message board just for a place to bring information to keep the public informed of such activity Here is a link to that board
http://www.investorshub.com/boards/board.asp?board_id=7707
Also I was not pro this company a couple of weeks back and is you followed my coverage I warned people of this Scott Wilding person and the possible damage that he could cause selling shares and his involvement of the previous management.. It wasn't till I wrote and talked to Mark that I decided to become involved in this interaction of share holders and the company... My job is to provide you with a forum where we can all interact with the company and share ideas and comments so management can see the over all opinion and sediment of the investment community both the negative and positive..
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