Airys; On January 23 Loftwerks raised their A/S from 200M to 500 M. What did they do with those extra 300 million shares? Here is the share breakdown Steve Sulja provided in his press release dated 8-22-2006. Please provide any SEC filing authorizing the sale of Restricted shares. Please provide any proof that insiders filed any SEC papers to sell their shares. Please provide any proof registering the extra 120 million shares sold. You always ask the bashers for proof so here is you chance! Prove to all of your followers that any of the sales of these shares were legal. It is a simple request. Prove it and I will never bring it up again!
Action Type: Amendment
Document Number: 20060034702-44 # of Pages: 1
File Date: 01/23/2006 Effective Date:
Previous Stock Value: Par Value Shares: 200,000,000 Value: $ 0.001 No Par Value Shares: 0 ----------------------------------------------------------------- Total Authorized Capital: $ 200,000.00 New Stock Value: Par Value Shares: 500,000,000 Value: $ 0.001 No Par Value Shares: 0 ----------------------------------------------------------------- Total Authorized Capital: $ 500,000.00
CEO Steve Sulja stated: "The current outstanding shares are 500 million. There are 362 million shares held by insiders. Of the 362 million insider shares, 162 million are restricted. There are 138 million shares in the public float. The number of inside owners, of 10% of common class shares, decreased after the reverse merger. The increase of outstanding shares from 200 million to 500 million excluded holders of 20 to 50 million shares from insider status. Basically, three insiders with 40 million shares from the open market did not meet the 10% of class rule; therefore, they are no longer considered insiders."
