Chevy56, Just a blip? I don't know ..
We had zero trading days before the R/S, and we are having them after the R/S. Even 760 shares of BWNR equalled 3,800,000 shares of the old MGMX. So, a 760 share day is nothing to sneeze at. What is the most puzzling is that the company is not releasing PR(s) during this gold price increase.
I believe that there may be some attempt to buy up the O/S that are on Float at cheap prices, maybe even a covert stock buyback plan,.....using company funds to decrease the float, at these ridiculous low prices, until there is nothing floating, only restricted shares. Then, with a healthy remaining cash balance, they dissolve the corporation and disperse the considerable cash balance to the remaining shareholders, when very few float shareholders remain.
One of my concerns is Filomena Nucaro, the Transfer Agent from Heritage Trust, replied to me at 8:20 AM, on Thursday, 10/18/07, in answer to some questions that I presented to her on the previous day. She so stated that she is NOT NOW the transfer agent for Brownstone Resources, in fact, she actually said BROWN RESOURCES. Secondly she stated that she was NOT the transfer agent for BWNR during the Reverse Split and that I would have to get the NEW Transfer Agent information from the company, BWNR. So, as of right now, we do not know who the transfer agent is. Unfortunately, today, Friday, I will be working a little and will not have the opportunity to pursue this further. Perhaps you could do me this favor, and call your broker and ask who the transfer agent is. The brokers must know, since they had to send information on our MGMX stock holdings to the transfer agent to find out how many shares they were giving due to the R/S.
My questions to whoever the Transfer Agent was, shortly before the R/S, are: 1. Why during the conversion to BWNR stock was an uneven amount of my stock, namely 3,559 shares of my 49,598,559 total shares of MGMX, rounded down to drop those shares, even though they represent .7118 of a new BWNR share? When I studied accounting, anything at .50 or more was rounded UP not DOWN. 2. Converting 1,776,967,093 shares of MGMX stock to BWNR shares equals 355,393.4186 new BWNR shares. How then does the latest number of O/S (restricted and float) equal 365,318? It would appear that by rounding down everyone's conversion has saved you 75 shares of BWNR, and the latest MGMX total converted to 355,318 shares. My question is where did the extra 10,000 BWNR shares (50,000,000 MGMX shares) come from. Who recently issued, and who received, these shares? This is something that a transfer agent should know, as not many persons have the authority to increase the number of shares. This is what is diluting our shareholder base, in addition to the lack of news releases.
Anyway there are no solid answers to your question, only more questions. The fact that the company is not replying recently, only exascerbates the situation. Don't you just love a 50-cent word, "EXASCERBATES"? Reminds me of Dr. Smith from "LOST in SPACE", when on T.V., and I quote, "Why use a monosyllabic term when a POLYsyllabic term will work just as eas-i-ly?". Well that's all I have for today. Sam.
