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Alias Born | 05/15/2006 |
Sunday, April 08, 2018 11:48:20 PM
Only Yates would do a RS like this.
He is destroying the shareholder, but keeping everything else the same.
The common shares that are out and being held get a 1 for 3,000 reverse split.
The AS does not change and does not get a split, and that number stays the same.
No preferred shares get split.
After the split, because the AS stays the same, there will be the same amount of shares that can be issued into commons. The RS will not lower that amount. The RS will reduce the commons out there now. And he will replace them with issuing more.
He is just wiping out the commons that are out there and filling in the hole with new commons to be issued without lowering the AS with a spilt. Man, this guy is beyond being evil.
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