Per the 10-Q you filed on June 30, 2012 there are precisely 20,020,000 held in escrow by the company.
The Form 4 you filed regarding the restricted shares confirms you had 35,400,000 as of June 29, 2012. You say that you have 40,000,000 now and I believe you.
I have 1,600,000 shares.
That's a grand total of 61,620,000.
Take the current o/s of 149,144,121 minus 61,620,000 and you get...
87,524,121
That's how many shares could be potentially floating around.
No way do I think any of the previous management are still holding. Especially since you canceled out all the preferred.
Neither does it look like anyone else is still holding. Ihub and RB are the main places to look for retail when it comes to penny stocks. Both are ghost towns.
So, if I were a guy like Patrick J Jensen and I wanted to acquire control of a shell. I would simply buy them from the open market for .0001 and .00001. Think about it.
At .00001 you can purchase the entire o/s for only $1,491!
149,144,121 x .00001 = $1,491
At .000001 it becomes only $149. For the whole shell!
Wouldn't that be the coolest? Accumulate the shell you plan to r/m by accumulating super cheapies over a long period of time. Pay next to nothing for it. Then sell it to a Billion Dollar Company in Africa. How sexy is that?
Legendary.
It's too bad there are more than one "Patrick J Jensen" in the reverse merger world. If there were only one I would figure he would have all but about 1.6mm of this shell.
Certainly would be no need to r/s himself.
GB-ND
creede
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