How scary is this??
"INFORMATION STATEMENT
ACTION BY THE CONSENT OF STOCKHOLDERS WITHOUT A MEETING
This information statement is furnished to all holders of Common Stock of the Company as of September 12, 2008, in connection with the proposed actions to be taken by the Company without a meeting pursuant to the written consent of the holder of a majority of the voting power of the Company:
1.
The amendment and restatement of the Articles of Incorporation to increase the number of authorized shares of the Company’s common stock, par $0.001 per share, from 300,000,000 shares to 5,000,000,000 shares.
2.
The amendment and restatement of the Articles of Incorporation to give the board of directors the power and authority, without a shareholder vote, to approve and implement forward and reverse splits of our common stock upon approval of a majority of the directors.
3.
The approval of the NaturalNano, Inc. 2008 Incentive Stock Plan (the “2008 Plan”) and the reservation of 800 million shares of the Company’s common stock for issuance under the 2008"
I make that proposed dilution by a factor of 16.7, or 1666%.
That's pretty impressive MegaDilution, even by the standards of one of Michael Weiner's personal wealth creating machines.
And the reverse split - always a winner.
A winner that is for the toxic financiers and arbitrageurs who seem to happily co-exist with the "management" of such companies, as they short the newly priced shares back to the level they were at before the R/S.
It really is about time the SEC did something about NNAN, BIPH and the other scams surrounding them.
