LIGATT Security International (LGTT)

[Mustang12]

yes. 100:1. Not necessarily a bad thing. I do not believe they did a RS just to issue more shares like a lot of P&Ds.

There was an issue (and still may be) with invalid shares issued by the previous owner. Original OS before split was 75M that was bumped up to 9B to accommodate the unauthorized shares. IMO those shares were never issued or paid for. They have been sitting in DTCC the whole time.

The RS was over 2 weeks ago and has still not cleared (I have Schwab and it only shows the PPS prior to RS, the number of original shares and the CUSIP number). The pre-split shares are still being held at DTCC. I believe the problem they are having is converting shares with no certificates (i.e. never issued). It is very possible these shares will be declared invalid and removed from the OS. That would mean the new OS would be about 15-20M.