UpSnap, Inc. (fka UPSN)

[Buell]

During the dilution of stock

Link:
http://www.pinksheets.com/edgar/GetFilingHtml?FilingID=6906245


Company shares outstanding after the share exchange and preferred stock exchange:

414,162,686 shares of Common Stock and 151,348,804 options and warrants to purchase Common Stock

Share Ownership of Peter Van Hierden, President and CEO, after the Share Exchange and the transactions entered into pursuant to the Preferred Stock Exchange Agreement:

318,977,879 direct ownership of common shares (representing 77.0% of the issued and outstanding shares of Common Stock).

Required Vote for the Share Exchange:

The approval of the shareholders is not required to consummate the share exchange transaction.

His whole family gets shares while adding no value to share holders.


Based on 78,379,167 issued and outstanding shares of common stock on October 30, 2009. There were also 22,740,702 options to purchase shares of common stock or warrants awarded as of October 30, 2009.
(3)

Janet Van Hierden and Peter Van Hierden are husband and wife, and beneficially own the 6,387,729 and 41,255,710 shares, respectively, of Common Stock owned by each and 2,765,292 options to purchase Common Stock owned by Peter Van Hierden. In addition, Mr. and Mrs. Van Hierden beneficially own 580,703 shares of Common Stock owned by their son Jason Van Hierden and the 116,141 shares of Common Stock owned by their son Brendon Van Hierden. They also beneficially own the 547,837 options to purchase shares of Common Stock owned by their daughter Amanda Van Hierden and the 273,919 options to purchase shares of Common Stock owned by their daughter Carlarene Van Hierden.
(4)

Mr. Philipp’s shareholdings are comprised of 1,000,000 fully-vested options and 3,910,000 shares. Mr. Philipp is the former CEO of the Company, who resigned on September 17, 2008.
(5) Mr. von Gnechten owns 1,054 shares of Common Stock and 1,364,211 options to purchase Common Stock.


Too funny