TGLers please help me =>
I just got this email from a TA about the MSNI to SNGX name change. And then an email from their lawyer asking if I still had questions (I never sent her an email, so the company sent her my email). It all seems fishy to me. The email, the attachment and the information I have are below.
MSNI had only a 25K float, OS and AS and now it shows 40M OS and 200M AS under SNXG without any volume whatsoever
EMAIL:
(attachment is copy of TA name change form without a FS or RS)
Dear XXXXX,
Per your question below; increasing the authorized shares of the company does not dilute the shareholders. Attached is a copy of the NASDAQ TA Verification form. As you can see, this effected a name change from Macrosonic to SunX. Macrosonic shareholders were diluted by the issuance of shares to SunX due to the reorganization of the company but this was approved by a majority vote. In addition, the Company aquired assets as a result of the merger. Per your question, just because the authorized shares increases doesn’t mean that the outstanding shares increase in the same proportion. Your assumption would be incorrect. There was no provision for this as part of the merger. Increasing the AS does not mean that the Issued and Outstanding shares has necessarily been increased. Should you have any further questions, please feel free to contact SunX legal counsel per the cc above. As you are aware, investing in Penny Stocks is not for the faint hearted and requires some degree of ability to take risk. We cannot value your investment or suggest what you should do as we are not qualified or licensed to provide legal, accounting or investment advice.
Whitney Lund
Operations Officer
AI
