Maptelligent Inc (MAPT)

[just Scottie]

Good morning, Albie was gracious enough to explain and correct the confusion about the language in the 14c.
Not sure if people understood what he meant by turn the page. Not meant to mean move on but to turn the page or scroll down from page 6 to 7 to look at the chart showing the old and new share structure. I’m a little slow in understanding things too so I will post Albie’s explanation.

As of July 22, 2020, the Company had a total of 5,304,973,069 of its 10,000,000,000 authorized shares of Common Stock issued. The total number of authorized shares of Common Stock and the par value of our Common Stock will not change as a result of the Reverse Stock Split. However, the number of outstanding shares of Common Stock will be reduced and the number of shares of Common Stock available for issuance will be substantially increased. Immediately following the effectiveness of the Reverse Stock Split, each ten shares of Common Stock owned by a stockholder immediately prior to the Reverse Stock Split will automatically convert into one share of Common Stock after the Reverse Stock Split. The following chart reflects the changes in our capital structure following the Reverse Stock Split (without adjustment for fractional shares


No split (pre-reverse split)


10,000,000,000 AS



5,304,973,069 OS



3,520,270,579 SHARES IN RESERVATION



1,174,756,352 AUTHORIZED SHARES AVAILABLE OF ISSUANCE




4000 for 1 (post-reverse split)

10,000,000,000 AS



1,326,243 NEW OS



649,647 SHARES IN RESERVATION ( TO PAY TOXIC DEBT



9,998,024,110 AUTHORIZED SHARES OF ISSUANCE


The Reverse Stock Split will affect all of our common stockholders uniformly and will not immediately affect any stockholder's percentage ownership interests in the Company, except to the extent that the Reverse Stock Split results in any of our stockholders owning a fractional share. However, stockholders should recognize that they will own fewer numbers of shares than they presently own (a number equal approximately to the number of shares owned immediately prior to the filing of the Certificate divided by 10 with adjustments for fractional shares). The Reverse Stock Split will have the effect of substantially increasing the number of shares the Company will be able to issue to new or existing stockholders, including holders of convertible securities, because the number of authorized shares will remain the same. This increased number of authorized but unissued shares of our Common Stock could be issued by the Board without further stockholder approval, which could result in dilution to the holders of our Common Stock.

https://learn.robinhood.com/articles/4EFqqbIXVM4mHEXqqlQAJe/what-is-a-fractional-share/

HERE IS HI EMAIL ANSWER, THIS SHOULD HELP


Scott,

You're on the right path and I'm happy you "turned the page". I'll try to
illustrate as it relates and the fractional shares and how the narrative in
these filings are confusing.

If you take the 1,326,243 post reverse shares as identified in the chart and
multiply by 9.2 it equals 12,201,435.6. The .6 is a fraction but the number
can actually be greater. If the LVXI shareholders own 20 % then multiply
these numbers by 4 to understand the approximate total number of shares
post-split as the GEOcommand shareholders will own 80% as disclosed. Let me
explain.

If a shareholder of record on or before July 22, 2020 has 21,233,245 shares/
4,000 he now has 5,308.31125 shares post-split. The .31125 is a fractional
share. As a loyal LVXI shareholder who invested before July 22 when people
(not us) hyped the stock up they receive a benefit of 9.2 shares on top of
the 1 reverse share. Therefore the transfer agent will adjust the number of
shares to an exact number, not the fractional number so the 5,308.31125
becomes 5,309 shares. Multiply the 5,309 by 9.2 which now gives them an
additional 48,842.8 shares. The .8 is fractional and therefore becomes
48,843. This is an imperfect science and therefore the statement "without
adjustment for fractional shares".

The final number in the chart can not be exact until post reverse.

I pray that this finally answers everyone's confusion. Keep the questions
coming and again thanks for being a LVXI shareholder.

Albie