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i see what happened last year. They wiped

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davidam   Wednesday, 07/16/08 09:33:21 PM
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i see what happened last year. They wiped out the shareholders for no reason just for the hell of it .why in the world did they do this when making so much money?? craziest thing I ever seen got me scratching my head. This could be trading at multi dollars per share I guess no one trusts them after this brainless stunt

NOTE 9. STOCKHOLDERS' EQUITY

On November 9, 2006, in accordance with the Share Exchange Agreement with ASI, the Company issued 18,153,934 shares of its common stock and 1,762,472 shares of its newly-designated Series B Convertible Preferred Stock, of which series each share will convert into 500 shares of the Company’s common stock (upon the increase of the Company’s authorized common stock to an appropriate amount to satisfy full conversion of all Series B Convertible Preferred Stock shares).

On February 25, 2007, the Company effectuated a 1-for-37 reverse stock split on all of its issued and outstanding shares of common stock and preferred stock. Simultaneously, all preferred stock was converted into common stock at the designated ratio.

As of March 31, 2007, there were 31,546,134 shares of Common Stock issued and outstanding and no preferred stock.


Disclaimer: My posts are IMO, I am not a Professional analyst Do your own DD before investing/trading . My opinion is subject to change quickly depending on market conditions or other considerations!
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