Saturday, January 16, 2021 12:01:01 PM
Again even is there are some phantom .0001 par shares it wont impact the current SS because it has a par value of.001
Which also means that your other statement that the company is going dark is totally false as well.
I read all the documents and imo two things excel as important:
1) The termination (or suspension) document (https://www.sec.gov/Archives/edgar/data/1819006/000121390021002151/ea133368-1512g_xxstreamenter.htm) refers to COMMON SHARES PAR VALUE $ 0.0001
2) There are NO COMMON SHARES PAR VALUE $ 0.0001 in the authorized shares. This is from the 8-K 12/9/20: Section 2.6 Authorized Shares. The authorized capital of the Company consists, immediately prior to the Closing, of: (i) 8,900,000,000 shares of common stock, $0.001 par value per share, 8,272,627,462 shares of which are issued and outstanding immediately prior to the Closing; and (ii) 100,000,000 shares of preferred stock, par value $0.0001, 100,000,000 of which are designated Series A Convertible Preferred Stock and 100,000,000 of which are issued and outstanding immediately prior to the Closing. All of the outstanding shares of Common Stock and Preferred Stock have been duly authorized, are fully paid and nonassessable and were issued in compliance with all applicable federal and state securities laws.
To me:
a) the termination filing has nothing to do with authorized shares
b) because of point a, the company is not going dark
c) because of point a, we cannot infer that the float will be reduced. It may happen because of the voting rights but that is a separate issue.
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