By: ccc343 03 Dec 2003, 04:30 PM EST Msg. 18195 of 18197 Jump to msg. # e-mail response from Greg Szabo.......
-----Original Message----- From: ccc343@[mailto:ccc343@e...] Sent: Tuesday, November 25, 2003 11:31 AM To: info@e... Subject: Authorized shares
Dear Sir or Madame,
At the close of the last shareholders meeting, the company released a PR stating that an additional 100,000,000 shares were authorized by the shareholders. I know this generated some dilution concerns, but once clarification was made as to what the shares were to be used for(mergers,acquisitions), this concern diminished. The guarantee from the company not to release these shares into the float has been honored.
My question is, out of the additional shares authorized, how many remain available for mergers or acquisitions? I am not sure if you can legally disclose this information and I understand completely if you cannot. Thank you in advance for your response.
Sincerely,
From: Greg Szabo [Add to Address Book] To: ccc343@ Subject: RE: Authorized shares Date: Dec 3, 2003 12:22 PM Mr., the additional shares were needed for mergers, acquisitions and fundraising. When a public company needs cash, stock is sometimes the only way to raise money. You may have noticed a recent press release talking about debt being converted to equity. These convertible notes exchange the debt for stock. You do get some dilution but you dramatically improve the overall position of the company. To answer your question, we set aside shares that might be converted for these loans. Even if all the loans are converted, the majority of the shares are still available for use.
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