Puget Technologies Inc (PUGE)

[Stockpennies]

Doesn't seem to say anywhere they are diluting or selling shares to raise capital...or am I reading this wrong from the presser....maybe they had to do this to give those investing in the Class B convertible some "collateral". wasn't the conversion for the class b convertible higher than .05???


it has increased its authorized capitalization in order to effect acquisitions, end its status as a "shell" company and complete the current $20,000,000 limited offering in shares of its Class B Convertible Preferred Stock. It is anticipated that all such events will significantly increase the book value of Puget's currently outstanding common stock, increase earnings and permit Puget to implement its ambitious business plans.