Redwood Group International (RDWD)

[oilman57]

Hey Jim what happened to the series B preferred shares that were supposed to be converted immediately on a one to one basis? Huh? Were those converted like they were supposed to? Do you now have a stake in the commons?

S3 Investment Company Announces New Trading Symbol as Re-Capitalization Becomes Effective
Monday February 12, 9:20 am ET


TEMECULA, CA--(MARKET WIRE)--Feb 12, 2007 -- S3 Investment Company, Inc. (Other OTC:SIVC.PK - News), a holding company with two subsidiaries doing business in the China market, has announced that the reverse split voted by the company's Board of Directors has taken effect as of 8:00 a.m. Eastern Standard Time today. As a result, the company's common stock will begin trading as of the open of market today on a post-split basis under the ticker symbol "SIVC."

A Current Report on Form 8-K has been filed with the Securities and Exchange Commission regarding the re-capitalization.

On January 26, 2007, the Board of Directors of the company approved to amend the company's Articles of Incorporation to effect a one-for-one hundred fifty reverse stock split of all outstanding and authorized shares of common stock. The authorized capital stock now consists of 66,000,000 shares of common stock, $.001 par value, and 100,000,000 shares of preferred stock, $.001 par value. Following the reverse split, the number of shares of common stock outstanding decreased from 2.4 billion shares to 16 million shares.

The reverse split will affect all of the holders of the company's common stock uniformly, except for insignificant changes that will result from the rounding up of fractional shares. The reverse split will affect neither Series B Preferred nor Series C Preferred stock. The Series B Preferred stock is convertible into common stock on a one-for-one basis. There are currently 12 million shares of Series B Preferred stock issued and outstanding, and it is management's intention to have all Series B Preferred stock converted into common stock immediately after the reverse split has been effected. The one million shares of Series C Preferred stock issued to chairman and chief executive officer James Bickel as security on a personal guarantee he provided for financing are expected to be cancelled once the debt to La Jolla Cove Investors has been repaid.

The company filed the amendment to the Articles of Incorporation effecting the one-for-one hundred fifty reverse stock split with the Secretary of State of the State of California on February 7, 2007, a copy of which is attached to the 8-K filing.

The reverse stock split was undertaken to encourage investor interest and improve the marketability of the company's common stock to a broader range of investors.

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About S3 Investment Company

S3 Investment Company, Inc. (http://www.s3investments.com) is a holding company with two subsidiaries doing business in the China market. S3 holds a 100% equity interest in Redwood Capital (http://www.redwoodcapinc.com), which assists private Chinese companies in accessing U.S. capital markets by utilizing a network of investment banking relationships, and a 51% equity interest in SINO UJE (http://www.sinouje.com), a non-stocking distributor of medical and industrial high-tech products to markets throughout China. SINO UJE has been granted exclusive distribution rights in China to medical and industrial products manufactured by leading companies in Europe, North America and Japan. These products are marketed to end-users, including major Chinese hospitals and private companies in a variety of fields, as well as original equipment manufacturers (OEMs), such as Phillips, Siemens and GE, that package the products with their technologies.

Any statements contained herein related to future events are forward-looking statements and are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Readers are cautioned not to place undue reliance on forward-looking statements. S3 Investment Company, Inc. undertakes no obligation to update any such statements to reflect actual events.



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Source: S3 Investment Company, Inc.