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Thursday, July 26, 2007 2:20:42 AM
Is this where AppleTree controls 90% of WNSH? Here is a statement from each of the last two PR's.
What we know at the present time is that there are 3,620,241,722 common shares issued and outstanding
Appletree now controls all preferred shares
If so, then this would imply that there are 3,620,241,722 shares in the float, and with the buyback of 360,000,000 shares, this first buyback is roughly 10% of the float. It's not uncommon to see a company buy back 10% of the float, of course we don't know if this is true until we see the filings. Still more guessing to do which is probably the reason we can't break above .0008, everyone else is puzzled by this too.
Each class of preferred shares are either convertible into or, the equivalent of a certain number of common shares depending on the company bylaws. This does not mean they will be converted, it is simply used as a controlling factor. There is also the question of whether or not the common shares are considered voting shares but with most penny stocks you don't see that, and besides we never received a proxy to vote on the AppleTree takeover, so I would doubt that our common shares are voting shares.
Just throwing around some thoughts.
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