Monitoring PCFG
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.
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.
So answer me this. How can the results of the Shareholder meeting show over 3 Billion shares for the 7 items voted on and over 1 billion against when at the time of the voting there were only 3 Billion shares total that were available? So Robber and Witch decided to give themselves more shares of the 10 Billion before that was even approved. I bet the SEC will do nothing about that because clearly something is wrong when you put to a Vote to increase from 3 Billion shares to 10 Billion and the for has over 3 billion and the against has over 1 billion. Interesting how that does not equal 3 billion shares at the time of voting.
Sure am Glad I bailed before these two thieves pulled this last stunt.
Thanks and the facts are out there. FINRA shows there is Shorting going on Pink stocks as their web site shows it every day. I put the information on here with the link out there as I do my DD's and I am just responding to folks who want to say this does not happen on pink stocks. unless you are telling me FINRA is posting bogus short sell for penny (Pink) stocks.
http://regsho.finra.org/regsho-Index.html
Look up PCFG on here
example on Monday 10 June there was 25.8 percent short selling of this stock.
20130610|PCFG|6199996|0|24039528|O
Filed a complaint with the SEC this week and referenced EDGAR on the conversion of 300,000 shares of Class A to 3 billion shares of common stock and asked how can Mr. Landau issue him 3B shares when the A/S is set to 3 billion and there is already 2 billion shares O/S. Asked how can Mr Landau do his conversion prior to the share holders meeting and prior to increasing the A/S from 3 billion to 10 Billion? Gave the links to each EDGAR Form filed by Mr. Landau showing he is doing all of this before the approval for increase. Also asked if this was legal as it appears Mr. Landau is maneuvering to have the Majority of shares before the meeting to do what he wants as he pleases going from 1.2% ownership to 51.2% of ownership of PCFG stock or something to that amount.
I have a link to FINRA that shows shares that were traded that had short sells done on them. I have been calculating short sell shares to real shares traded for years.
you live in a world where even if people prove to you Short Selling AKA NAKED SHORT SELLING is taking place you try to say that there is no such thing.
Well you are wrong and to prove it go to this link.
http://en.wikipedia.org/wiki/Naked_short_selling
It will tell you all you want to know about the process. Also look at JP MORGAN you will find they have been caught short selling and you will find articles on them talking and admitting to short selling.
Really I think you need to go back and learn about shorting. Shorting happens everywhere and a lot in penny's
I would think not but like any contract under negotiation until they are signed you have to cover your loans and could it be they wanted to be safe then sorry and did the increase just in case the contracts were not awarded to INVA?
Paintpimp take a look at this and look at all the admentments and splits that have been done over the years. Has all this really taken place should we be able to match this up in EDGAR to verify the Splits and adjustments did take place?
Entity Actions for "INOVA TECHNOLOGY, INC."
Sort by File Date Document Number Action Type descendingascending order
1 - 38 of 38 actions
Actions\Amendments
Action Type: Stock Split
Document Number: 20130387216-73 # of Pages: 1
File Date: 6/11/2013 Effective Date:
Previous Stock Value: Par Value Shares: 2,000,000,000 Value: $ 0.001 No Par Value Shares: 0 ----------------------------------------------------------------- Total Authorized Capital: $ 2,000,000.00 New Stock Value: Par Value Shares: 20,000,000 Value: $ 0.001 No Par Value Shares: 0 ----------------------------------------------------------------- Total Authorized Capital: $ 20,000.00
Action Type: Amendment
Document Number: 20130325609-21 # of Pages: 2
File Date: 5/16/2013 Effective Date:
Previous Stock Value: Par Value Shares: 500,000,000 Value: $ 0.001 No Par Value Shares: 0 ----------------------------------------------------------------- Total Authorized Capital: $ 500,000.00 New Stock Value: Par Value Shares: 2,000,000,000 Value: $ 0.001 No Par Value Shares: 0 ----------------------------------------------------------------- Total Authorized Capital: $ 2,000,000.00
Action Type: Annual List
Document Number: 20130181548-23 # of Pages: 2
File Date: 3/19/2013 Effective Date:
(No notes for this action)
Action Type: Stock Split
Document Number: 20120469101-16 # of Pages: 1
File Date: 7/5/2012 Effective Date:
Previous Stock Value: Par Value Shares: 150,000,000 Value: $ 0.001 No Par Value Shares: 0 ----------------------------------------------------------------- Total Authorized Capital: $ 150,000.00 New Stock Value: Par Value Shares: 500,000,000 Value: $ 0.001 No Par Value Shares: 0 ----------------------------------------------------------------- Total Authorized Capital: $ 500,000.00
Action Type: Annual List
Document Number: 20120321299-61 # of Pages: 2
File Date: 5/5/2012 Effective Date:
(No notes for this action)
Action Type: Annual List
Document Number: 20110400165-10 # of Pages: 2
File Date: 5/27/2011 Effective Date:
(No notes for this action)
Action Type: Annual List
Document Number: 20100836300-73 # of Pages: 2
File Date: 11/6/2010 Effective Date:
(No notes for this action)
Action Type: Stock Split
Document Number: 00002913202-19 # of Pages: 1
File Date: 11/2/2010 Effective Date:
Previous Stock Value: Par Value Shares: 7,500,000 Value: $ 0.001 No Par Value Shares: 0 ----------------------------------------------------------------- Total Authorized Capital: $ 7,500.00 New Stock Value: Par Value Shares: 150,000,000 Value: $ 0.001 No Par Value Shares: 0 ----------------------------------------------------------------- Total Authorized Capital: $ 150,000.00
Action Type: Amended & Restated Articles
Document Number: 20100458565-46 # of Pages: 6
File Date: 6/23/2010 Effective Date:
Previous Stock Value: Par Value Shares: 3,000,000,000 Value: $ 0.001 No Par Value Shares: 0 ----------------------------------------------------------------- Total Authorized Capital: $ 3,000,000.00 New Stock Value: Par Value Shares: 7,500,000 Value: $ 0.001 No Par Value Shares: 0 ----------------------------------------------------------------- Total Authorized Capital: $ 7,500.00
Action Type: Annual List
Document Number: 20090430958-80 # of Pages: 2
File Date: 5/22/2009 Effective Date:
(No notes for this action)
Action Type: Registered Agent Change
Document Number: 20090420885-98 # of Pages: 1
File Date: 5/14/2009 Effective Date:
(No notes for this action)
Action Type: Amendment
Document Number: 20080493664-32 # of Pages: 1
File Date: 7/24/2008 Effective Date: 7/24/2008
Previous Stock Value: Par Value Shares: 600,000,000 Value: $ 0.001 Par Value Shares: 25,000,000 Value: $ 0.001 No Par Value Shares: 0 ----------------------------------------------------------------- Total Authorized Capital: $ 625,000.00 New Stock Value: Par Value Shares: 3,000,000,000 Value: $ 0.001 No Par Value Shares: 0 ----------------------------------------------------------------- Total Authorized Capital: $ 3,000,000.00
Action Type: Annual List
Document Number: 20080333826-15 # of Pages: 2
File Date: 5/15/2008 Effective Date:
(No notes for this action)
Action Type: Annual List
Document Number: 20070362969-24 # of Pages: 2
File Date: 5/25/2007 Effective Date:
(No notes for this action)
Action Type: Amendment
Document Number: 20070209393-25 # of Pages: 1
File Date: 3/27/2007 Effective Date:
(No notes for this action)
Action Type: Annual List
Document Number: 20060573415-83 # of Pages: 2
File Date: 9/6/2006 Effective Date:
(No notes for this action)
Action Type: Registered Agent Change
Document Number: 20050615507-71 # of Pages: 1
File Date: 12/14/2005 Effective Date:
(No notes for this action)
Action Type: Amended List
Document Number: 20050607160-17 # of Pages: 2
File Date: 12/12/2005 Effective Date:
(No notes for this action)
Action Type: Registered Agent Resignation
Document Number: 20050543597-20 # of Pages: 1
File Date: 11/9/2005 Effective Date:
(No notes for this action)
Action Type: Acceptance of Registered Agent
Document Number: 20050506929-68 # of Pages: 1
File Date: 10/24/2005 Effective Date:
(No notes for this action)
Action Type: Amended List
Document Number: 20050490614-11 # of Pages: 1
File Date: 10/19/2005 Effective Date:
(No notes for this action)
Action Type: Registered Agent Resignation
Document Number: 00000415405-89 # of Pages: 1
File Date: 9/26/2005 Effective Date:
(No notes for this action)
Action Type: Amendment
Document Number: 20050209504-37 # of Pages: 1
File Date: 6/3/2005 Effective Date:
P/U...RENO-CARSON MESS 6-3-05
Previous Stock Value: Par Value Shares: 150,000,000 Value: $ 0.001 No Par Value Shares: 0 ----------------------------------------------------------------- Total Authorized Capital: $ 150,000.00 New Stock Value: Par Value Shares: 600,000,000 Value: $ 0.001 Par Value Shares: 25,000,000 Value: $ 0.001 No Par Value Shares: 0 ----------------------------------------------------------------- Total Authorized Capital: $ 625,000.00
Action Type: Annual List
Document Number: 20050193997-35 # of Pages: 2
File Date: 5/25/2005 Effective Date:
(No notes for this action)
Action Type: Amendment
Document Number: C10361-1997-009 # of Pages: 2
File Date: 12/21/2004 Effective Date:
CAPITAL STOCK WAS 75,000,000 AT .001 PER SHARE CHM
CERTIFICATE OF CHANGE PURSUANT TO 78.209 FILED. (2)PGS CHM
Action Type: Annual List
Document Number: C10361-1997-002 # of Pages: 2
File Date: 5/21/2004 Effective Date:
List of Officers for 2004 to 2005
Action Type: Annual List
Document Number: C10361-1997-010 # of Pages: 1
File Date: 6/12/2003 Effective Date:
(No notes for this action)
Action Type: Amendment
Document Number: C10361-1997-008 # of Pages: 3
File Date: 11/20/2002 Effective Date:
(1)PG. MLJ
SECURE ENTERPRISE SOLUTIONS INC. MLJB A 00003
Action Type: Annual List
Document Number: C10361-1997-011 # of Pages: 1
File Date: 5/9/2002 Effective Date:
(No notes for this action)
Action Type: Amendment
Document Number: C10361-1997-007 # of Pages: 1
File Date: 1/25/2002 Effective Date:
(1)PG CHM
NEWSGURUS.COM, INC. CHMBL1% 00002
Action Type: Annual List
Document Number: C10361-1997-012 # of Pages: 1
File Date: 6/1/2001 Effective Date:
(No notes for this action)
Action Type: Annual List
Document Number: C10361-1997-013 # of Pages: 1
File Date: 5/30/2000 Effective Date:
(No notes for this action)
Action Type: Amendment
Document Number: C10361-1997-006 # of Pages: 1
File Date: 2/4/2000 Effective Date:
(1)PG. DMF
ANNEX BUSINESS RESOURCES, INC. DMFB + 00001
Action Type: Registered Agent Change
Document Number: C10361-1997-005 # of Pages: 1
File Date: 1/6/2000 Effective Date:
LAUGHLIN ASSOCIATES, INC.
2533 N. CARSON STREET CARSON CITY NV 89706 DMM
Action Type: Annual List
Document Number: C10361-1997-014 # of Pages: 1
File Date: 12/17/1999 Effective Date:
(No notes for this action)
Action Type: Amendment
Document Number: C10361-1997-004 # of Pages: 3
File Date: 8/11/1999 Effective Date:
CAPITAL STOCK WAS 25,000 NO PAR VALUE MMR
(3)PGS. MMR
Action Type: Reinstatement
Document Number: 20090775384-45 # of Pages: 2
File Date: 6/1/1999 Effective Date:
REINSTATED - REVOKED 4/1/98 TCH
Action Type: Articles of Incorporation
Document Number: C10361-1997-001 # of Pages: 8
File Date: 5/16/1997 Effective Date:
(No notes for this action)
Return to Entity Details for "INOVA TECHNOLOGY, INC."
--------------------------------------------------------------------------------
.
Information Center | Election Center | Business Center | Licensing Center | Securities Center | Online Services | Contact Us | Sitemap
101 N Carson Street Suite 3 Carson City, NV 89701 | (775) 684-5708
© 2010 All Rights Reserved. Privacy Policy and Disclaimer | About This Site
Yea and now I clicked on the link at the bottom and it is there again. Now reading EDGAR the additional Stock authorization was to increase from 500,000,000 to 2,000,000,000 and from what I saw this was done primarily to cover the 3 million dollar loan INVA had. Could it be that with the 4 Million dollar contract and the additional 1 million dollar contract they figure they no longer need the 2,000,000,000 shares and are going to do a 100:1 reverse split to get the value of their stock out of penny land?
I just found it interesting that as soon as the link got posted it started failing... so yea it made me suspicious, I filed the error information with them and a few minutes later it was back up.
Just suspicious these days with all that I have seen lately.
Now depending on the value of the R/S it may or may not hurt you.
I will keep monitoring and make my decision based on what goes on in the next few days or weeks.
paintpimp, you are not talking to dummy here, I have been involved with stock splits before.. but the funny thing is now if you click on the link that was supplied you get back to the site but the reference 2,000,000,000 to 20,000,000 dated 6/11/2013 is gone. Now all you see when you click on that Link is 20,000,000 and no reference date.
The increase to 2,000,000,000 shares per Edgar was filed 5/20/2013.
I just find all this very interesting.. Nothing seems to be what it seems right now.
Well it won't hurt me as I got 279,049 shares for .0013 let it R/S but ironically after that link posted now the site is down.. coincidence.. maybe..
texe that is why I posted the last EDGAR posting.. something smells and the link is now failing so I submitted the information in the error box with the posters ID. If this was a fraudulent post I will let Nevada handle it.
Well I click on the link in that post and get the following error
and I have clicked on it 4 times and get the same error. interesting...
Well I submitted the following with the users name and link from IHUB.
An error has occurred.
--------------------------------------------------------------------------------
An error report has been generated and sent to the programming staff for resolution but if you choose to, you can help by documenting the steps that led to this error. If you were doing an Entity Name Search on "ACME Corp" you could note that below which would be a tremendous help in pinpointing the root cause of the problem and expedite the correction of the issue. Otherwise, you may click your web browser's Back button and retry your action. Sorry for any inconvenience.
Steps to replicate this error (optional):
Click on the following link at IHUB for INVA and get this error. Person posting a R/S claim with this link.
funnyG986 Member Level Tuesday, June 11, 2013 10:59:26 PM
Re: Teamchetom post# 5913 Post # of 5958
INVA REVERSE SPLIT FILED NVSOS !!
INVA
http://nvsos.gov/sosentitysearch/CorpDetails.aspx?lx8nvq=bLOccNOpXXr39j8vV7XLdA%253d%253d&nt7=0
Stock Split
Update Count Change From:37 to 38
Par Share Count Change From:2000000000 to 20000000
First off, Why would INVA file the following on the 20th of May 2013 and then turn around and file a R/S June 11th 2013? From all my dealing with stock splits it has to be filed with the SEC and so far there has been no filing with EDGAR for an R/S. The latest filing with EDGAR was 5/20/2013
I will believe it when it shows up on EDGAR until then the post that was put up showing a reverse split at 2,000,000,000 to 20,000,000 is unfounded and EDGAR does not back what was posted and the reverse split still has to be filed with the SEC.
Here is the latest EDGAR Filing and the links, I will wait and see if this so called R/S shows up electronically on EDGAR.
http://www.sec.gov/cgi-bin/browse-edgar?action=getcompany&CIK=0001088211&type=&dateb=&owner=include&count=40
http://www.sec.gov/Archives/edgar/data/1088211/000121465913002860/0001214659-13-002860-index.htm
http://www.sec.gov/Archives/edgar/data/1088211/000121465913002860/c516130def14c.htm
DEF 14C 1 c516130def14c.htm
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, DC 20549
SCHEDULE 14C INFORMATION
Information Statement Pursuant to Section 14(c) of the
Securities Exchange Act of 1934
Check the appropriate box:
o Preliminary Information Statement
o Confidential, for Use of the Commission Only (as permitted by Rule 14c-5(d)(2))
x Definitive Information Statement
INOVA TECHNOLOGY, INC.
(Name of registrant as specified in charter)
Payment of Filing Fee (Check the appropriate box):
x No fee required.
o Fee computed on table below per Exchange Act Rules 14c-5(g) and 0-11.
(1) Title of each class of securities to which transaction applies:
(2) Aggregate number of securities to which transaction applies:
(3) Per unit price or other underlying value of transaction computed pursuant to Exchange Act Rule 0- 11 (set forth the amount on which the filing fee is calculated and state how it was determined):
(4) Proposed maximum aggregate value of transaction:
(5) Total fee paid:
--------------------------------------------------------------------------------
o Fee paid previously with preliminary materials
o Check box if any part of the fee is offset as provided by Exchange Act Rule 0-11(a)(2) and identify the filing for which the offsetting fee was paid previously. Identify the previous filing by registration statement number, or the Form or Schedule and the date of its filing.
(1) Amount Previously Paid:
(2) Form, Schedule or Registration Statement No.:
(3) Filing Party:
(4) Date Filed:
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
INOVA TECHNOLOGY, INC.
2300 W. Sahara Ave. Suite 800 Las Vegas, Nevada 89102
NOTICE OF ACTION BY WRITTEN CONSENT OF STOCKHOLDERS
TO THE STOCKHOLDERS OF INOVA TECHNOLOGY, INC.:
NOTICE IS HEREBY GIVEN that, on May 6, 2013, the holders of more than a majority of the outstanding common stock of Inova Technology Inc., a Nevada corporation (“Inova,” “the Company,” “we” or “us”), have approved the following action without a meeting of stockholders in accordance with Nevada General Corporation Law:
· The approval of an amendment to our Amended and Restated Certificate of Incorporation to effect an increase in our authorized shares to 2,000,000,000
The increase in authorized shares will become effective approximately 20 days after the accompanying Information Statement has been distributed to the stockholders of the Company.
WE ARE NOT ASKING FOR A PROXY
AND YOU ARE REQUESTED NOT TO SEND US A PROXY
The accompanying Information Statement is being provided to you for informational purposes only to comply with requirements of the Securities Exchange Act of 1934 (the “Exchange Act”) and constitutes the notice of corporate action without a meeting by less than unanimous consent of the Company’s stockholders required by the Nevada General Corporation Law. You are urged to read the Information Statement carefully in its entirety. However, no action is required on your part in connection with the authorized share increase since no meeting of the Company’s stockholders will be held or proxies or consents solicited from the Company’s stockholders in connection with these matters because the requisite approval of the authorized share increase has been secured by means of the written consent of the holders of a majority of the outstanding shares of common stock of the Company.
By Order of the Board of Directors,
/s/ Adam Radly
Adam Radly
CEO
May 19, 2013
--------------------------------------------------------------------------------
INOVA TECHNOLOGY, INC.
2300 W. Sahara Ave. Suite 800 Las Vegas, Nevada 89102
--------------------------------------------------------------------------------
INFORMATION STATEMENT
May 19, 2013
--------------------------------------------------------------------------------
THIS IS NOT A NOTICE OF A MEETING OF STOCKHOLDERS AND NO STOCKHOLDERS’
MEETING WILL BE HELD TO CONSIDER THE MATTERS DESCRIBED HEREIN.
INTRODUCTION
This Information Statement is being furnished to stockholders of Inova Technology, a Nevada corporation (“Inova,” “the Company,” “we” or “us”), in connection with the Authorized shares increase previously approved by the board of directors of the Company (the “Board of Directors”) and subsequently adopted by the written consent of the holders of more than a majority of our outstanding common stock pursuant to the Nevada General Corporation Law (“NGCL”), in lieu of a special meeting of stockholders.
This Information Statement is first being sent on or about May 22, 2013 to the Company’s stockholders.
Holders in excess of a majority of our outstanding common stock executed and delivered to us on May 6, 2013 (the “Consent Date”) a written consent approving and authorizing the Authorized share increase and, consistent with the requirements of Rule 14c-2 promulgated under the Exchange Act, the increase will take effect 20 days following the mailing of this Information Statement to the stockholders of the Company or such later date as may be specified by our board of directors.
This Information Statement is being provided to all stockholders of record who were entitled to give an authorization or a written consent in regard to the share increase proposal on the Consent Date (“Consent Record Date”). A complete summary of the corporate action taken is set forth herein.
Stockholders will not be entitled to any rights of appraisal under the Nevada law or otherwise with respect to the approval and implementation of the authorized share increase proposal.
WE ARE NOT ASKING YOU FOR A PROXY AND
YOU ARE REQUESTED NOT TO SEND US A PROXY
1
--------------------------------------------------------------------------------
REQUIRED VOTE; OUTSTANDING SHARES AND VOTING RIGHTS
Outstanding Securities
As of the Consent Record Date, we had issued 196,506,699 shares (and 269,865,249 reserved) and outstanding 196,506,699 shares of common stock, and par value $0.001 per share (the “Common Stock”), constituting Inova’s only outstanding class of securities entitled to vote on the Authorized shares proposal. Each share of Common Stock outstanding on the Consent Record Date entitles the record holder to cast one vote with respect to each matter to be voted upon. The Company’s Amended and Restated Certificate of Incorporation (“Certificate of Incorporation”) does not provide for cumulative voting.
Increase authorized to 2,000,000,000
On May 6, 2013, the Company completed an increase to its authorized shares of common stock. The Company had 196,506,699 shares issued and outstanding.
Action by Written Consent
Under the Nevada General Corporation Law, unless otherwise provided in the certificate of incorporation or bylaws, any action that may be taken at an annual or special meeting of stockholders also can be taken without such meeting, without prior notice and without a vote, if a consent or consents in writing, setting forth the action so taken, is signed by the holders of outstanding shares having not less than the minimum number of votes that would be necessary to take such action at a meeting at which all shares entitled to vote thereon were present and voted. Our Certificate of Incorporation and Bylaws do not limit, prohibit, restrict, or otherwise qualify the use of this procedure. Further, Article II of our Bylaws specifically permits actions to be taken by written consent in lieu of a meeting in the manner set forth in the laws.
Further, unless the laws, the certificate of incorporation, or bylaws of a corporation requires a greater number of votes, matters submitted to stockholders generally require the approval of a majority of the shares at a meeting when a quorum is present. The laws require the approval of a majority of the outstanding shares in order to amend a Nevada corporation’s certificate of incorporation, unless the certificate of incorporation requires a greater vote to take such action. Our Certificate of Incorporation does not require a greater vote to take such action. Accordingly, because the authorized increase proposal requires an amendment to our Certificate of Incorporation, the approval of the authorized increase proposal requires the receipt of the written consent of the holders of at least a majority of the outstanding shares of Common Stock of the Company as of the Consent Record Date (or 98,253,350 shares).
Notice of Action By Written Consent
Under the laws, the Company is required to provide prompt notice of the taking of corporate action without a meeting to the stockholders of record who have not consented in writing to such action. This Information Statement is intended to provide such notice. No appraisal rights are afforded to stockholders of the Company under the laws as a result of the approval of the Authorized share increase proposal.
CONSENTING STOCKHOLDERS CONSENT
Stockholders holding a substantial majority of the outstanding shares of common stock of the Company (collectively, the “Consenting Stockholders”) executed and delivered to us a written consent effective as of the Consent Record Date authorizing the Authorized share increase. As of the Consent Record Date, the Consenting Stockholder had the power to vote an aggregate of 103,952,044 shares of our common stock, or 52.9% of the outstanding common stock. The Consenting Stockholders voted all of the foregoing shares to approve the Authorized share increase proposal.
2
--------------------------------------------------------------------------------
Taking action by written consent of the Consenting Stockholders has eliminated the costs and management time that would have otherwise been necessary to hold a special meeting of stockholders and will permit the Company to effect the Authorized share increase as early as possible in order to accomplish the purposes of the Company as hereafter described.
THE AUTHORIZED SHARE INCREASE OF COMMON STOCK
General
Our Board of Directors and the Consenting Stockholders have approved the Authorized share increase proposal and have authorized the Company to file an amendment to our Certificate of Incorporation to effect the Authorized share increase of our Common Stock.
Background
As of the Consent Record Date, the Company had 500,000,000 shares of Common Stock and 25,000,000 shares of preferred stock authorized, of which 196,506,699 shares of Common were outstanding and no shares of preferred stock were outstanding.
The Authorized share increase is intended to make more shares available to the Company for future issuances. The Board of Directors believes that the price of the Common Stock is too low to attract investors in the stock. In order to proportionally raise the per share price of the Common Stock the Board of Directors believes that it is in the best interests of our stockholders to implement an authorized share increase . The Company’s Common Stock is quoted on the Over-the-Counter Bulletin Board (“OTC-BB”) under the symbol “INVA” and the last reported closing price of the Common Stock on May 3, 2013 was $0.005 per share.
The par value of the Common Stock will remain unchanged at $0.001 per share and the Authorized share increase will not change the number of outstanding shares of Common Stock under the Certificate of Incorporation. Accordingly, the authorized share increase will have the effect of creating additional authorized and unreserved shares of our Common Stock. Although at present we have no current plans, arrangements or understandings providing for the issuance of the additional shares that would be made available for issuance upon effectiveness of the authorized share increase, such additional shares may be used by us for various purposes in the future without further stockholder approval. These purposes may include, among other things:
• the sale of shares to raise additional capital;
• the issuance of equity incentives to our employees, officers or directors;
• establishment of strategic relationships with other companies and suppliers; and
• acquisition of other businesses or products.
3
--------------------------------------------------------------------------------
Reasons for the Authorized share increase
The Board of Directors believes that an authorized share increase is desirable for a number of reasons. Primarily, the Board of Directors believes that an authorized stock increase could improve the marketability and liquidity of the Common Stock and will encourage interest and trading in the Common Stock.
The Board of Directors believes that the share data of the Common Stock is a significant factor in whether the Common Stock satisfies the investing guidelines of many institutional investors and investment funds. A share increase may allow a broader range of institutions to invest in our Common Stock and may potentially increase the trading volume and liquidity of our Common Stock.
We have outstanding convertible notes payable of $3,307,900 to Boone. Such notes are convertible into shares of our common stock in whole or in part at a conversion price of $.00366 per share. If the convertible debt was to be converted we would be required to issue 903,797,814 shares of our common stock. Boone has never converted in the 5 years we have had debt with them but it is a possibility at some point if they change their approach. We are required to have shares available in authorized, even if they are never issued to Boone.
The Board of Directors is not implementing the share increase in anticipation of any future transaction or series of transactions. Further, the Board of Directors does not intend for this transaction to be the first step in a series of plans or proposals of a “going private transaction” within the meaning of Rule 13e-3 of the Securities Exchange Act.
Material Effects of the Authorized share increase
The principal effect of the share increase will be to increase the number of authorized shares. As a result, stockholders should recognize that once the authorized share increase is effected, they will own the same number of shares that they currently own. However, the share increase will affect all stockholders uniformly and will not affect any stockholder’s percentage ownership interest in the Company. Proportionate voting rights and other rights and preferences of the holders of Common Stock will not be affected by the authorized share increase. For example, a holder of 2% of the outstanding shares of Common Stock immediately prior to the authorized share increase would continue to hold 2% of the outstanding shares of Common Stock immediately after the authorized share increase. The number of stockholders of record also will not be affected by the share increase. The authorized share increase will not affect the number of shares of Common Stock available for issuance under the Company’s 2002 Equity Incentive Plan. The Company also has outstanding warrants pursuant to which shares of Common Stock will be issued upon exercise.
4
--------------------------------------------------------------------------------
The Common Stock is currently registered under Section 12(b) of the Securities Exchange Act, and the Company is subject to the periodic reporting and other requirements of the Securities Exchange Act. The authorized share increase will not affect the registration of the Common Stock under the Securities Exchange Act and the Common Stock will continue to be reported on the OTC-BB.
Effect on Fractional Stockholders
Stockholders will not receive fractional shares in connection with the authorized share increase and the Company will not be paying any cash to any stockholders for any fractional shares from the authorized share increase.
Effect on Registered and Beneficial Stockholders
Following the authorized share increase, the Company intends to treat stockholders holding the Common Stock in “street name,” through a bank, broker or other nominee, in the same manner as registered stockholders whose shares are registered in their names. Stockholders who hold their shares with such a bank, broker or other nominee and who have any questions in this regard are encouraged to contact their nominees.
Procedure for Effectuating the Authorized share increase
The authorized share increase will be effective upon the filing of a Certificate of Amendment (the “Amendment”) to the Certificate of Incorporation with the Secretary of State of the State of Nevada, which is referred to as the “Effective Date.” The Board of Directors reserves the right, notwithstanding stockholder approval and without further action by our stockholders, to elect not to proceed with the authorized share increase if the Board of Directors determines that the authorized share increase is no longer in the best interests of the Company and its stockholders.
The text of the Amendment is set forth in Appendix A to this Information Statement. The text of the Amendment is subject to modification to include such changes as may be required by the office of the Secretary of State of the State of Nevada and as the Board of Directors deems necessary and advisable to effect the authorized share increase.
If the Board of Directors elects to implement the authorized share increase, stockholders will be notified as soon as practicable after the effective date that the authorized share increase has been effected.
5
--------------------------------------------------------------------------------
Certain Risk Factors Associated with the Authorized share increase
In evaluating the authorized share increase proposal, the Board of Directors also took into consideration negative factors associated with authorized share increases. These factors included the negative perception of authorized share increase by some investors, analysts and other stock market participants, as well as various other risks and uncertainties that surround the implementation of a authorized share increase, including but not limited to the following:
· There can be no assurance that the market price per share of the Common Stock after the Authorized share increase will remain unchanged. In the long term the price per share depends on many factors, including our performance, prospects and other factors, some of which are unrelated to the number of shares outstanding. If the authorized share increase is consummated and the trading price of the Common Stock declines, the percentage decline as an absolute number and as a percentage of the Company’s overall market capitalization may be greater than would occur in the absence of the authorized share increase. The history of similar authorized share increase for companies in similar circumstances is varied.
· There can be no assurance that the authorized share increase will result in a per share price that will attract institutional investors or investment funds or that such share price will satisfy the investing guidelines of institutional investors or investment funds. As a result, the trading liquidity of the Common Stock may not necessarily improve.
6
--------------------------------------------------------------------------------
The Board of Directors, however, has determined that these negative factors were outweighed by the potential benefits of the authorized share increase and voted to approve the Authorized share increase proposal.
Authorized Shares
As of the Record Date, the Company had 500,000,000 shares of Common Stock, par value $.001, and 25,000,000 shares of preferred stock, par value $.001, authorized. The authorized share increase would not change the number of authorized shares of preferred stock. Following the authorized share increase, authorized but unissued shares of Common and preferred stock will be available for issuance, and the Company may issue such shares in the future. If the Company issues additional shares of Common Stock, the ownership interest of holders of the Common Stock will be diluted.
Accounting Matters
The par value per share of Common Stock would remain unchanged at $0.001 per share after the Authorized share increase . As a result, on the Effective Date of the authorized share increase, the stated capital on the Company’s balance sheet attributable to the Common Stock will remain the same. Our net income or loss and our net book value on a per share basis will remain the same. The Company does not anticipate that any accounting consequences would arise as a result of the authorized share increase.
Potential Anti-Takeover Effect
Although the increased proportion of unissued authorized shares of Common Stock available for issuance following the Effective Date could, under certain circumstances, have an anti-takeover effect (for example, by permitting issuances that would dilute the stock ownership of a person seeking to effect a change in the composition of the Board of Directors or contemplating a tender offer or other transaction for the combination of the Company with another company), the authorized share increase proposal is not being undertaken in response to any effort of which the Board of Directors is aware to accumulate shares of the Common Stock or obtain control of the Company. Other than the authorized share increase, the Board of Directors does not currently contemplate the adoption of any other amendments to the Certificate of Incorporation that could be construed to affect the ability of third parties to take over of change the control of the Company.
No Appraisal Rights
Our stockholders are not entitled to appraisal rights under the NGCL with respect to the proposed Amendment to effect the authorized share increase, and the Company has not independently provided its stockholders with any such right.
There are no tax consequences from the authorized share increase.
7
--------------------------------------------------------------------------------
SECURITY OWNERSHIP OF MANAGEMENT AND
CERTAIN BENEFICIAL OWNERS
The following table sets forth certain information regarding the beneficial ownership of our outstanding Common Stock as of May, 2013 by: (i) each of our directors, (ii) each of our named executive officers (as defined by Item 402(a)(3) of Regulation S-K promulgated under the Exchange Act), (iii) all of our directors and executive officers as a group, and (iv) each person known to us to beneficially own more than 5% of our outstanding Common Stock. Except as otherwise indicated, the persons named in the table below have sole voting and investment power with respect to all of the shares of our Common Stock owned by them.
Amount and Nature of
Name and Address of Beneficial Owner (1) Beneficial Ownership % of Class
Adam Radly (2) 103,952,044 (2) 52.9%
Paul Aunger (3) 27,611,897 (3) 14.1%
Alex Lightman -0- 0%
Officers and directors as a group (1 person) 103,952,044 52.9%
(2)(3) These shares are held by parties related to Adam Radly and Paul Aunger
By Order of the Board of Directors,
/S/ Adam Radly
Adam Radly
Chairman
Las Vegas, NV
May 19, 2013
8
--------------------------------------------------------------------------------
Appendix A
CERTIFICATE PURSUANT TO NRS 78.385 OF AMENDMENT OF
ARTICLES OF INCORPORATION
INOVA TECHNOLOGY, INC.
I, the undersigned, Adam Radly, President of Inova Technology, do hereby certify:
The amendment set forth below to the Company’s Articles of Incorporation was duly adopted in accordance with the provisions of the Nevada Revised Statutes section 78.207 by unanimous vote of the Board of Directors of Inova Technology, Inc. at a meeting duly convened, held on the 15th of May, 2013 and shall be effective upon filing.
Article Fourth is amended to read as follows:
The total authorized Capital Stock of the Corporation is Two billion (2,000,000,000) Common shares with a par value of one hundreth of a cent (.001) per share.
In witness whereof, Inova Technology, Inc. has caused this Certificate to be signed and attested by its duly authorized officers, this 15th day of May, 2013.
By:
Adam Radly
President
--------------------------------------------------------------------------------
That was not hear say that was posted. That person has a contact in NDEP and over the years I have been on this board that person in NDEP that the person talks to has been spot on. NDEP is a government program run by the state of Nevada. So what you respond with as hear say is not truly hear say. MSHA web site shows numbers that all it does. Getting information from the contact in NDEP is a lot more accurate then looking at a Government run web sit.
That statement is like the commercial I have seen where the Girl makes a statement and the guy says where did you hear that and she responded the Internet. She then said everything posted on the internet is fact and he asked her where did you get that and her response was the Internet.
You can trust the Government web sites all you want. Myself I will trust things posted by certain people on this board and add what is on the MSHA, EDGAR an any site I get my information from.
Like I said this person has gone to his contact in NDEP more than once and has posted pretty accurate information and I for one am not going to stop believing what he posts.
All I know is that there are no Concrette Ponds being built or proposed like PCFG lead us to believe at the end of 2012. There has been no real information about BRCM forth coming over the last 6 months and that leads me to believe BRCM won't be in production this year and more than likely not in 2014 either.
So Smoke and Mirrors is all that is going on and I stand by that statement. JMO
That someone is Trapper Jim and he has been spot on when getting facts for this board. I will take his information over MSHA numbers anyday.
Oh and by the way that is 9 Office workers, No Mill workers all office and last qtr of 2012 there were 7 office workers and 6 mill workers. Yea we have life probably cleaning out the office. Yea I am negative on PCFG right now because no PR's, 9 office workers, no paper work / forms submitted to NDEP for the concrete ponds and going into May 2013. This year is a bust and I will just hold these shares until either the are totally trash or PCFG does something in 2014.
And I stand by my statement go back to the 3rd Qtr 10K were they stated they had shut the plant down. that would mean PCFG has had 6 months to get the forms and proposal submitted. Without the propper approval there will be no concrete ponds. Even if the paper work was to get submitted now (Close to May 1st) how fast do you think they will have that installed, approved and ready to go? I am a long and here I thought back in November that they were actually going to change things up and try a different watering process. I hold 11 million shares of this stock and I hope at some point the do get their act together. I don't see it happening in 2013 unless they use the same old system.
For all we know the work that was reported in the MSHA could be clean up work putting the fields back to their original setup and the plant being totally shut down. Hours to MSHA are hours worked yes but what was the work for? Anyone gone out there to see if there is any stock piles of dirt?
Well it is the same old same old, if NDEP does not have the paperwork for the Concrete ponds that pretty much tells me these guys have not learned a dang thing are still going to try and mine with the current setup. smoke and mirror statement was for the so called shutting down the plant to add these concrete ponds. If NDEP has not recieved the paperwork to start this construction and get their approval then you tell me PCFG is not putting up smoke and mirrors on changing how the plant will run. For all we know those people that are working out there may be getting paid minimum wage just to move things around. Remember the plant has not formally notified NDEP or MSHA that they are back on line. So the hours they posted were for what work? sure wasn't for mining gold because they don't have approval to start the mine back up.
yea it does, nothing to do now but is set and wait and hope all is not lost.
Sure sounds like black rock canyon is all smoke and mirrors. With Rob and Mitch having no plans on putting this back in production. Looks like us longs are in for a long wait or just out the hard earned cash we put into PCFG. What a total waist. JMO
Don't always believe the volume is from PCFG dumping shares. I pulled the last 5 days of trading, not to include todays, from the FINRA short sell web site and the numbers on PCFG Shorting are ridiculous. Play close attention to the last 2 days as those were high volume days and folks on here were posting more dumping of shares by PCFG. Well the numbers don' lie.
of the 5 days trading three of them resulted in over 1/3 of the volume to be short sales. On the 19th over 60% of those shares traded were shorted shares.
Date |Symbol |ShortVolume| ShortExemptVolume| TotalVolume| Market
20130424 |PCFG |23144048 |0| 48305398 |O 47.9% shorted
20130423 |PCFG |152128200 |0| 381032928 |O 39.9% shorted
20130422 |PCFG |6179000 |0| 76143194 |O 8.1% shorted
20130419 |PCFG |10514333 |0| 17315183 |O 60.7% shorted
20130418 |PCFG |18748797 |0| 100299101 |O 18.7% shorted
Total shorted in 5 days 210,714,378 shares
Total Volume in 5 days 623,095,804 shares
Total Shorted Shares % in 5 days. 33.8%
Tell me about it I have 35K riding on this stock, but it is a gamble and 3 years ago all the DD work I did pointed to something good was about to happen. I guess it did when it made its run up to .08 a share. I had a sell at .09 to get my initial investment out, but it never made it to that sell point. because of the split I went from owning shares at .0019 to shares owned at .141. I took 2 grand and when it hit .0002 I got 10 Million shares. So I am close to back where I was at before the R/S but this time with 3 times the shares I had at the R/S. If I get lucky and this runs to a penny I will selling 3.6 million shares to get my initial investment out and let the other 6.4 ride.
you are probably correct there... but come on silent running for almost 6 monhs is crazy. Shoot they did not even alert the shareholders they were closing down the mining facilities for upgrades and repairs. We all had to read about it in the 10Q release. A company that does not share information good or bad in the late stages tends to make you wonder what is really going on.
Well I would agree to that but I have been sending them simple questions for over 3 years and they have never responded to one email I have sent them. The thing they ever did was respond to one of my emails on their shareholders call.
Good luck with that.. I have sent both Mitch and Rob emails and they have never answered one of my emails.
I am not sure, I do know if those 2 don't watch out the more shares that land in other shareholders hands that amounts to more than they have could result in a hostile take over. If I am not mistaken anytime someone else owns more shares than PCFG they wrisk that group / person attempting to do a hostile take over and those two could be out on their butts if they are not careful.
I will have to research if another R/S could take place without Shareholders approval.
Well I am at 11 million shares averaged down from the R/S of .141 and am now setting at what I was setting at before the R/S price wise .0032 a share. In hopes that if this does go North and gets close to a penny I can sell 1/3 of my shares to get my initial investment back and let the rest ride as that will be free shares.
I just got 4 million more shares
The 10K and 10K/A are up on EDGAR's web site. Has anyone gotten a notification that it had been filed?
10K/A http://www.sec.gov/Archives/edgar/data/1137855/000151597113000136/0001515971-13-000136-index.htm
10K http://www.sec.gov/Archives/edgar/data/1137855/000151597113000136/0001515971-13-000136-index.htm
Thanks sassanb, I may have missed that so if you find it please set me straight. Yea I am a long with PCFG and they have had there moments where it looks like they were getting everyting in line to really start production only to have the mine shut down again. I just hope this time what they did at the mine really corrects the problem and they can get Black Rock Canyon mine producing on a regular basis. Time will tell.
The 10k is the end of year report, Because the mine was not operational at the end of the year the extension to file the the 10K late to me is no big deal as the stock is alreay down in 00 as you say and the news in the 10K (end of year for 2012) won't reflect anything new. The 10-Q that is due May 15th is the one that will bring either good, Neutral or bad news. PCFG the last few times has not filed on time and submitted the NT-10 Q or K so this is nothing new.
NT-10K was for end of year for December 2012. So that 10K won't hold any news in it.
The next 10-Q: for Quarterly Period Ended 03/31/13 due Wednesday, May 15, 2013.
10-Q due May 15th is the one that will have any news on Black Rock Canyon Mine if went operation in the 1st Qtr 2013.
I am not looking for any news from PCFG this month at all.
So look for this stock to set here trading between .0004 to .0007 for the next 3 to 4 weeks at least.
MSHA web site still has not posted any information on PCFG dealing with hours worked and amount of people who worked for the 1st Qtr 2013. maybe it will show up at the end of this week.
If I were a day trader I would be buying this at .0005 and selling at .0006. But I am not wrong this will not go to .001 or even a penny unless PCFG releases news that the Mine is back operational and gives some information on how much gold they have mined. Until that happens keep doing your 0004-0007 trading.
PCFG is not going to climb out of hibernation until there is some sort of solid news. Then maybe this stock will go from .0006 and move up to a half a cent or hopefully back to pennies.
It remains to be seen at this point which direction PCFG is going to take until there is news out.
I seriously doubt it, as PCFG is not going to move one way or another until PCFG announces if this Mine is back operational or what the plans are... anything other than back on line would tend leave this stock where it is at or even lower. JMO
They pay the fines that have to be paid by a specific time other fines I believe there is an appeal process and most people know the appeal process through any government agency can drag out for a long time. As for you stating they don't pay IRS Tax can you supply the proof to back that statement up? and what IRS Tax are you refereing to?
Got this off the wire this morning:
Gold on a tear after bleak U.S. jobs data
MARKETWATCH 9:21 AM ET 4/5/2013
MADRID (MarketWatch) -- Gold futures pushed higher on Friday, rising nearly $20 an ounce at one point as investors backed out of the dollar and into the precious metal after a sharply disappointing U.S. jobs report.
Gold for June delivery rose $11, or 0.7%, to $1,563 an ounce just ahead of the open of U.S. markets. Trading had been largely flat ahead of the jobs data.
U.S. job gains for March came in at the lowest level in 10 months -- a gain of 88,000 new jobs versus expectations for a rise of 190,000. That forecast had already been cut down from an earlier target of 195,000 new jobs after a batch of downbeat data this week.
"March's non-farm payrolls caused quite a shock despite all the pessimism surrounding the figure in the lead up to the release," said Craig Erlam, market analyst with Alpari U.K., in a note.
"Another second-quarter downturn in the U.S. economy is actually positive for those who want the Fed's QE3 program continue," said Erlam. "Gold, as an inflation hedge, tends to be one of the biggest beneficiaries of more QE, so this reaction clearly suggests that traders believe QE3 is here to stay."
Investors look to nonfarm payroll figures for any hints about when the Federal Reserve will taper down its asset purchases. Gold prices tend to benefit in periods of accommodative policy, though that hasn't worked as an exact science.
Gold prices settled Thursday's session down $1.10 at $1,552.40 an ounce on the Comex division of the New York Mercantile Exchange, but they pared losses during the final minutes of trading, as the U.S. dollar lost more ground against the euro.
The dollar fell again on the jobs data, underpinning gold gains. A softer greenback tends to bolster dollar-denominated commodities such as gold, as it makes them less expensive to holders of other currencies.
The dollar index , which measures the U.S. currency against a basket of six major rivals, fell to 82.453 from a level of 82.622 seen ahead of that data. The dollar also pulled back against the Japanese yen , which has been tumbling in the wake of the Bank of Japan's aggressive monetary easing plan announced Thursday.
The two-year easing campaign was launched by newly appointed Bank of Japan Gov. Haruhiko Kuroda, who has pledged to do "whatever it takes" to meet a 2% consumer-inflation goal. Read: George Soros warns of a free fall for the yen
"Clearly, the new [Bank of Japan] leadership has started with a bang, undertaking bolder-than-expected measures at its very first meeting," said Prudential International Investments Advisers's chief investment strategist John Praveen in a note to clients Thursday.
"This suggests a new monetary policy regime in Japan and fuels optimism of an economic recovery, the beginning of the end of deflation, further weakness in the yen (to over ?100 a dollar) and further equity-market gains," Praveen said.
Elsewhere in the metals complex Friday, silver for May delivery rose 35 cents, or 1.3%, to $27.11 an ounce.
July platinum futures surged $13.20, or 0.9%, to $1,531.30 an ounce, while palladium for June delivery fell $7.40, or 1%, to $718.05 an ounce. Both metals on Thursday logged their third straight declines.
May copper fell a cent to $3.34 a pound.
I was wondering if anyone would catch that :) and I agree with mkt_predictor why would MSHA show up for an inspection if the mine was closed perminately? But the grounding check is what intrigued me. Sure does sound like PCFG added something to Black Rock Canyon mine that required a grounding check be done. could it be the Concrete ponds and the pumps that may be associated with those ponds? just a guess on my part (speculation for some) but there again why perform these inspections if you were not planning on opening the mine back up?
Yea you can do that to.. I just never used it and forgot about it LOL. But thanks for simplifying it after my post LOL
Go to this link
http://www.msha.gov/drs/drshome.htm
in Mine Name: type in Black Rock Canyon click search
THen next screen click More Info. beside the Mine
it will take you to the main page for Black Rock Canyon.
Click on Violations to the right of Overview. Then click Search
That will take you to the all the Violations.
Here is where I posted it before Post# 100760
MSHA normally posts the mines information on their web site. Usually updated on a Friday by close of business day a couple weeks after the end of the Qtr. I checked this morning and the 3rd Qtr for Black Rock Canyon Mine is not updated on the web site. Still shows last update to be for the 2nd Qtr 2012.