Bakken Resources (fka BKKN)

[LouisDesyjr]

Preferred shares issued

8K report showing the initial issuing of preferred shares:
http://ih.advfn.com/p.php?pid=nmona&article=72107039

It looks like $600,000 worth of preferred shares were issued. It is not clear how many shares this represents since the amount listed is a dollar amount and not the number of shares.

The problem is that even if the preferred shares were issued at $10/share or 60,000 shares; the preferred shares each have 100 votes, meaning this initial issuing of shares would control 6,000,000 more than 10% of the outstanding votes. (BKKN only has a total of 56 million common shares outstanding).

If the preferred shares were issued at $1/share of less, then the preferred shares would control more than 50% of the company.

Louis J. Desy Jr.