Reverse Splits

[sublime]

IPRE RS 1:500 vote..i am sad to report that i have disturbing news regarding IPRE. most of you know me well and you know that i would never put information out there if i were not as sure as possible of it's validity.

for verification the information can probably be obtained through your broker. you can ask for a copy of the proxy.

the information has come to me from an IHub member who wishes to remain anonymous and each of us should use it or dismiss it as we see fit. i trust the person who gave me the info fwiw.
i have flipped in and out of IPRE and am not in it at this time however i would post this just the same if i were in it right now.(EDIT:CHECKED MY ACCT THIS MORNING, I AM IN IPRE..LOL)

IPRE, via its transfer agent, Atlas Stock Transfer, has issued notice of a Special Meeting of Shareholders to be held either TOMORROW, August 21 @ 9:30 AM (according to the Proxy Card) or Tuesday, August 22 @8:30 AM (according to the accompanying materials).

The materials are dated August 10, it was postmarked August 15, and the shareholder (not me) received it yesterday.

The purpose of the meeting is to:

1. Authorize a merger with Imperia Entertainment, a Nevada corporation (Articles of Incorporation for this entity were filed on July 18. The Notice describes Nevada as more "user friendly.")

2. (Here is where the going gets weird.) Authorize an amendment....to effect a 1-500 reverse split of the common share capital of the corporation, which, upon filing of the amendment, will reduce every ten shares of common stock to one share of common stock.

(And here is where it gets weirder.) The accompanying letter to shareholders from Kenneth Eade refers to both a 1-1000 reverse split and a 1-500 reverse split on the same page.

(And weirder still) The "Notice of Special Meeting of Shareholders twice refers to a 1-1000 reverse split (which also "will reduce every ten share of common stock to one share." But it also refers to a 1-500 reverse split in three different places.

The Notice also states the Kenneth Eade, holder of one million preferred shares each convertible at 100,000 for one common share has already issued his proxy in favor of the proposals.
____________________________________________________________

just received this EMAIL from james in reply to my seeking verification:

Vera,

Yes, let me explain things more clearly. As you know I handle the
deal side of things and Ken handles the financial arrangements. Last
night I met with Pride fighting and it's fighters including
heavyweight champ Fedor. And I have some great pictures for you to put
up if you would like me to send them to you. I think it would be very
positive for the board to see what I am working on. Over 500 people
showed up last night to get a glimpse of the Pride fighters. They are
having their first event in the US this October. They have had events
in Japan with over 70,000 people showing up. That is as big as the
Super bowl in America.

Ken has a great deal of trouble dealing with the state of California,
for example the time it took for the RS to go through and why we had
to put it off. This is why he is switching the corporation to Nevada.

When a reverse split is eventually implemented, a lot of investors
will be upset. I would imagine on this news that people will be very
angry and I will get a lot of hate mail like I did when we first
mentioned the reverse split. The PPS may even drop. So I can
understand why investors would be upset about it.

There are two reasons for doing the RS. One is so that we can get on
a better board. We have been getting caught up with our accounting in
preparation for this. The second and more important reason is that
private investors are putting up millions of dollars to fund both
Whiskers and Never Submit through convertible restricted shares. That
money will be used to fund these projects which will bring IPRE a LOT
OF PRESS and a great deal of money IMO. If we don't do the RS then
there's no Whiskers and no Never Submit. If we can't do our movies
there is no point in us existing. We are not a ponzi scam or a shell.
We are a real company making real movies that need real money to
function. Whiskers will be funded through MUME but NS will be done as
an Imperia project exclusively. If the turn out to Pride last night
is any indication, the movie will be very popular.

In short, I realize it is a hard pill to swallow, and I apologize to
those investors who upset by this, but it is absolutely essential for
the future and vitality of this company. I believe the deals we are
working on now will be the seeds that will bear the fruit of our
future.

The RS is 1-500… I cannot speak about Ken Eade's shares as I did not
draft this letter.

Please let me know if I can go ahead and send the pictures from last night.

All the best,

James
[e-mail]




I''m not a professional trader. Do your own DD.

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