Tuesday, August 26, 2014 10:03:50 AM
From what I can tell, the 1000:1 reverse split does not change the number of shares authorized, namely just over SIX BILLION. Berge has voted himself (as the sole board member from what I understand - again not a real fuctional board, just a self serving one), to reduce the 5.X BILLION shares outstanding to 5.X MILLION, yet the A/S remains the same.
Can someone confirm if I am right or wrong? At a minimum, the A/S needs to be reduced to six MILLION to be consistent with the reverse split. If not, Berge has just taken a huge dump on us.
(BTW - I'm personally in for over $20k here, watching my 35 million shares drop to 35 thousand, with likely no real hope of any meaningful recovery)
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