Red Giant Entertainment, Inc. (fka REDG)

[rickn23]

Benny and the board of directors have 42.5 million Z shares able to convert to 4.25 billion common shares. Outside counsel holds at least 1 million shares (they have/had the option to purchase more, but there have not been any updates)

I would not expect Benny (and maybe the rest of the board) to convert and sell, but any entity funding them cannot make the same assumption. I do assume this limits the type and amount of financing the company can secure.

I don't expect the share price to hold 10 cents. People would be selling now, if there were a definite bid. Once a bid is established post split, I expect people will be selling to get out (too many unknowns).

With financing or not, the company really can't afford a new CEO or CFO . But, Benny can't be trusted to run the company correctly or spend money wisely. I don't know what the answer is here. The board has backed Benny unanimously, so none of them can be trusted, either.