Sunset Island Group Inc (SIGO)

[saladbar]

SHARE COUNT FACTS: All officer shares (46M) have been converted to preferred; 4.6M shares convertible @ 10:1.

If they had not backed their way into the current share structure and started out that way to begin with, all of iHub would be marveling at this ridiculously low share count of 4,671,771 and as of today a market cap that's under 3M.

Instead, they did back their way into it and although this has to be repeated daily on multiple occasions for some reason, the company does in fact have 4,671,771 shares outstanding...period.


O/S and Fully Diluted are two different things.

O/S: 4,671,771

Fully Diluted: 50,671,771

The additional 46M are currently preferred status 4.6M shares with a 10:1 conversion rate, BUT GUESS WHAT...

They're locked up for three years minimum from the date of conversion and the CEO has clearly stated...

...officer shares are in fact locked up for three years minimum as they convert three years from conversion date, but we don’t have any real reason to ever convert those shares because as we’ve shared before, we are building this business to become an attractive acquisition target and whether that takes two years, three years or five, our shares are more about maintaining majority ownership than anything else.