APT MotoVox Group Inc. (MTVX)

[Kool Aid Man]

Uhhhhhhh... lemme get this straight

APT/FROZ has a total of 20 billion authorized common shares.

BUT...

The T/A is required to keep an ADDITIONAL 21.2 billion available to satisfy the future conversion needs of Class C shareholders alone?

?????????????

If true then how does this get fixed?

Quote:Would getting rid of, say, 10 billion help things?

Of course it would...
But how are they going to reduce the A/S when the terms of the convertible preferreds say
" (d) The Corporation covenants that it will at all times instruct its Transfer Agent to reserve and keep available out of its authorized and unissued Common Stock solely for the purpose of issuance upon conversion of Series C Preferred Stock as herein provided, free from preemptive rights or any other actual contingent purchase rights of persons other than the holders of Series C Preferred Stock, such number of shares of Common Stock as shall be issuable (taking into account the adjustments and restrictions of this Section IV hereof) upon the conversion of all outstanding shares of Series C Preferred Stock. The Corporation covenants that all shares of Common Stock that shall be so issuable shall, upon issue, be duly and validly authorized, issued and fully paid and nonassessable."

http://www.sec.gov/Archives/edgar/data/1486526/000135448814002399/froz_ex41.htm
All of the designation statements say the very same thing...
http://www.sec.gov/Archives/edgar/data/1486526/000135448813003911/froz_ex41.htm
http://www.sec.gov/Archives/edgar/data/1486526/000135448813003911/froz_ex42.htm
http://www.sec.gov/Archives/edgar/data/1486526/000135448814002399/froz_ex42.htm

they have authorized and issued 19,738,646 Class C Preferred Shares and 22,155,729 Class E shares.... all convertible at 500 for 1

+ Shyster Schissler has 500,000 Series B ...also convertible at 500 for 1

42,394,375 x 500 = 21,197,187,500 common shares...
Hhmmm.... HOW are they even in compliance with the terms that state they need to keep common shares available for possible conversion???