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CoolVanilla300C, regarding the PBHG AS Update...

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stervc Member Level  Sunday, 09/01/19 06:31:13 AM
Re: CoolVanilla300C post# 17828
Post # of 20704 
CoolVanilla300C, regarding the PBHG AS Update...

Depending on the size of the acquisition coming into PBHG, the AS won't matter. But just as an FYI...

The updates of the Authorized Shares (AS) from the Secretary of State (SOS) always trumps the update from the Transfer Agent (TA). The SOS of a company is the one that feeds the AS update to the TA. This is initially done by the company and then usually the TA keeps the share structure on a regular basis. So, with the AS... the SOS is the official authority.

However, it's the other way around regarding the Outstanding Shares (OS). The TA is the official authority for obtaining the OS updates. However, the company info usually trumps what's at the TA since that info comes from the company, but I have seen where it was the other way around due to the company not having the correct info in their books for their audit trail from their internal bookkeeping.

Now that PBHG has a new TA, I'm confident that an official audit trail of their share structure will be done. There will be an official accountability of shares that will take place plus any old note holders won't be able to convert under a new management that I suspect will be taking over from the merger that's coming in like what's transpiring over at AURI per the same team.


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