RME/PIKE control nearly 444,000,000 shares check it out
RME
Item 8.01. Other Events.
In July 2008, RM Enterprises International, Inc., a company that is our majority stockholder and which is controlled by certain of our officers and directors, agreed to grant us the right, exercisable by us at any time on or prior to February 28, 2010, to repurchase all or any portion of the 267,154,132 shares issued that RM Enterprises International had purchased from us since January 1, 2008 at the original price paid by RM Enterprises International to us for such shares, or an aggregate of $4,918,432.46 for all of such shares. On February 28, 2010, RM Enterprises International agreed to extend the date by which such repurchase right may be exercised by us to August 31, 2011. A copy of the amendment to the stock repurchase rights letter agreement is attached as Exhibit 10.1 and incorporated herein by reference.
PIKE
Item 5. Interest in Securities of the Issuer
(a) The Reporting Persons beneficially own:
(i) Collectively, the Reporting Persons beneficially own 175,350,000 representing 24.3% of the outstanding shares of Common Stock.
(ii) The LP Fund individually beneficially owns 27,167,988 shares of Common Stock representing 3.8% of the outstanding shares of Common Stock.
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(iii) The QP Fund individually beneficially owns 148,182,012 shares of Common Stock representing 20.5% of the outstanding shares of Common Stock.
(iv) PCM, as the general partner of the LP Fund and QP Fund, may be deemed to beneficially own the 175,350,000 shares of Common Stock held by them representing 24.3% of the outstanding shares of Common Stock.
(v) Mr. Pike may be deemed to be the beneficial owner of the 175,350,000 shares of Common Stock beneficially owned by PCM representing 24.3% of the outstanding shares of Common Stock.
(b) The LP Fund, PCM and Mr. Pike have shared power to (i) vote or direct the vote of, and (ii) dispose or direct the disposition of, the 27,167,988 shares of Common Stock held by the LP Fund.
The QP Fund, PCM and Mr. Pike have shared power to (i) vote or direct the vote of, and (ii) dispose or direct the disposition of, the 148,182,012 shares of Common Stock held by the QP Fund.
