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Then where are the 75,000,000 Pretzels (7.5B/100) located?
Wow.
There are 18.9 Billion Pretzels.
To have 93% of 18.9 Billion Pretzels, you have to have 17.5 Billion Pretzels. Let's say they are sitting on a table.
Of your 17.5 Billion Pretzels on the table, 10 Billion Pretzels were put back in the cupboard.
This leaves 7.5B.
Where do you think these Pretzels are located?
So if you remove the Preferred shares (10B as diluted)
What percentage of the 8.9B must Wei Tian own to get to 93%.
Yea. Right.
Moment before sale: K for Xmet: 100,000,000 Preferred Shares and 8.9 Billion in OS
Moment after sale: Wei Tian has 93% of shares (fully diluted)
Equals---
But you are right about one thing. Time to stop.
Section 2.6 Authorized Shares. The authorized capital of the Company consists, immediately prior to the Closing, of: (i) 8,900,000,000 shares of common stock, $0.001 par value per share, 8,272,627,462 shares of which are issued and outstanding immediately prior to the Closing; and (ii) 100,000,000 shares of preferred stock, par value $0.0001, 100,000,000 of which are designated Series A Convertible Preferred Stock and 100,000,000 of which are issued and outstanding immediately prior to the Closing. All of the outstanding shares of Common Stock and Preferred Stock have been duly authorized, are fully paid and nonassessable and were issued in compliance with all applicable federal and state securities laws.
https://sec.report/Document/0001213900-20-042407/ea131552ex99-1_xxstream.htm
This is the 100% of which Wei Tian had 93% after closing.
This is why you calculate at 18.9 Billion shares at the date of sale for total number of Fully Diluted Common Shares.
Since I am now double checking my knowledge:
https://smallbusiness.chron.com/preferred-stock-dilute-common-stock-63841.html
Convertible Preferred
Holders of convertible preferred stock can exchange their shares for a specified number of newly minted common shares. Convertible preferred stock is dilutive since conversion increases the number of common shares, thereby reducing the ownership level and EPS of each. When financial analysts, investors or corporate managers evaluate a company’s performance, they take potential dilution of EPS into account. “Fully diluted EPS” assumes that all convertible securities -- convertible preferred, convertible bonds and warrants -- will be exercised, resulting in a flood of additional common shares. The potential for an increased supply of common shares drives down the stock price. Corporations can take various "anti-dilution" measures when issuing convertible securities to lessen the probability or impact of dilution.
I apologize to the Board if you are reading this correctly. And I don't doubt you are. It crosses a bright line I was taught a along time ago. But it was done by Xmet before the sale.
Again my apologies to the Board.
This is in the existing share structure or future one?
I've read an hope it is correct. But I don't reject criticism as it might have some truth in it. (Once is enough though. Not the 1000 times things are said on this Board.) And I would like to know what type of people we are invested in.
I wonder how you would approach this gentleman to see if he knows anything about Wei Tian. Can't be that big of Universe of IPO Specialists
http://theipospecialist.com/
A unknown new owner
A share structure that is in flux and my yet be used to screw us
A company that went dark
And I just bought more shares. LOL
GLTA
You are my "Preferred" authority on stocks all the way THall.
Yea. a real authority on stocks.
Hopefully, what is going on will be made clear today. Too many people got hurt yesterday on rumor.
If you believe Wei Tian is serious about bringing into the US Market a serious company, a chill-out order might be the right thing.
Line 4:
The number of shares of each affected class or series, if any, to be issued after the change in exchange for each issued share of the same class or series:
Each 100 shares of common stock shall automatically be converted into one share of fully paid and non-assessable common stock.
That has nothing in it about preferred shares
People who are going to see the Reverse Split as a betrayal are going to be looking for revenge. I would hate to be someone who works for a securities related company and who was giving out contradictory statements while the price was fluctuating yesterday. A company man giving out real time contradictory information, that is certainly frowned on. And giving out advice as if they were an authority on stocks.
When making up your mind about the R/S
1) This has never been a pump and dump by the company. P&D's are false info given out with steady sales of company stock into the phony momentum until the company has been cleaned out. The company then R/S to try it again. Many here have been through that and this AIN'T that.
2)The P&D company is constantly giving out updates in a phony plan to keep upward momentum. Xmet has said nothing.
3)Value of the investment is dependent not on the number of shares but the nature of the new business. P&D's have no real company.
I have no idea what this company will be--- that is my gamble. But what the new company is--- that is what will determine the worth of my investment.
Edit: I said "Not the number of shares in it." Not quite what I meant. But for instance: if I own 10,000 shares in a 1B company (again, don't know what Wei has in mind), I have something.
But if I own 1000000 shares in a new cleansing formula that will soon be on sale on Amazon, I probably have lost my money.
Wish I had time earlier to get in touch with a securities lawyer on the document put up. Just read it.
Did any one else get an authoritative read?
Line No 4, issuance, is the part for which I would like an explanation.
PS.
I know people are on edge after today. But I may buy if I can raise some cash from a bum investment I have.
Before today I saw three possibilities: No real company, real company but a bad one; and s real company that is a good company.
With today's announcement, two: real company but a bad one; and real company that is a good company. And I don't see him going through this for a bad company. So I will buy more tomorrow if able.
But Line No 4 doesn't track for me.
So at the end of the day: Wei Tian has taken one more step in setting up his company. Good.
GLTA
I wonder if the announcement will come soon on what he has in mind?
I said I am here until I find out what he has in mind for the company. So I have been buying. I don't know that this is bad.
If the business isn't good. I am screwed.
If it is, I'm up.
I'll wait and see.
Whatever your decision, GLTA
Either bad news or someone trying to kill the price.
I bought down here so I am on that side.
GLTA
That's right. Wanted the pun too much I guess.
At a minimum, Wei Tiean has to have 4.45B (plus 1) to control the company (unless you believe in Super Duper voting Preferred Shares) as in the real world Preferred Shares don't vote on management--- only Common Shares.
As I have speculated with some math, I see him in control of 85% of the market common shares.
I wait to see if and what plans he has for this shell. Onto the Ides of March (et Two).
Just when I thought I was out... I get sucked back in.
See you when there is something new.
No. My math shows that Tian would have 85% of the Float because the 93% is of Fully Diluted shares. The 7.6B would then be of the 8.9 common shares.
I have shown the math in which I think that I am correct that Tian owns:
7.6 Billion Shares of the Common Stock.
But I am not going around and around again.
If people want to listen to nonsense of Voting Super-Duper Preferred Shares and conversions. They are free to do so.
My apologies. The 93% is approximate in the contract.
So MM are going to create these new shares that are converted--- whatever that is. Turn Jewish? Maybe Buddhist
Sounds familiar some how. S..sh...sho... Nope, lost it.
Because, you know Wei Tian has 93% of the stock and I don't think he will feel obliged to turn his shares over to cover these new shares.
Sho... there it is again. Damn.
Terms I have learned on this Board
Voting Preferred Shares
Convert of a Dividend Share
Diluted Pile means the Owner controls 93% of the stock
Quite an education
If he is real, you'll still be happy.
LOL. I'll second that
Well, since Wie Tian has at least 4.45 Billion (plus 1) to run the Company and (if my math is correct) I say there are only around 1.4 Billion shares not in his control, the float in the market is low.
But who knows?
The last time a court date was pushed back, we went through a similar weak period. But I want to see if this Chinese IPO expert has the goods, I'll wait.
Edit Sp expect-expert
A real snow job. Outside of course.
Go Xmet
Scam? Again? Wow. Talking about running on empty.
GLTA
The fever that hit the entire OTC over the last several weeks, seems to have cooled a bit.
As for Xmet, the sugar high has worn off.
But I've been in Xmet for a while so March is no biggie. I should be able to get my car out of the garage by then.
Preferred shares don't take from the Common Pool. They add to it. But only if the are converted.
This is pointless.
Good Luck to Xmet today.
First. Please look up fully diluted and see what it means. There is not one statement in what you put up that has voting rights for the preferred shares. Only that they are Convertible Preferred Shares. Which means they need to be Converted (FULLY DILUTED) before they can vote.
Second, the 100-1 figure was put up on the Board in September when the Preferred Shares were announced. Since it wasn't disputed, that is the figure I have used.