Technipower Systems, Inc.(fka TECZ)

[Drugdoctor]

Folks, the need for the reverse split was staring us in the face all the time...

There was no alternative, because the low stock price, even last September and the conversions of debt had caused the company to not have enough shares to meet it's obligations.

Another alternative would have been to raise the authorized shares to about 2 billion... however, this would have forced the stock price down to the .0000s, imo, and then a reverse split, so it was inevitable...



(a) Based on the September 30, 2008 market price of the Company’s common stock shares, the Company would need to issue approximately 449 million shares to redeem the entire outstanding principal balance of the convertible debentures at September 30, 2008. As of September 30, 2008, the Company had approximately 326 million shares available to be issued. Subsequent to September 30, 2008, the Company has made additional redemptions by issuing shares of common stock .

http://secfilings.nasdaq.com/filingFrameset.asp?FileName=0001144204%2D08%2D065684%2Etxt&FilePath=%5C2008%5C11%5C19%5C&CoName=SOLOMON+TECHNOLOGIES+INC&FormType=10%2DQ&RcvdDate=11%2F19%2F2008&pdf=