Saturday, June 26, 2010 2:24:18 AM
http://www.sec.gov/Archives/edgar/data/1412126/000093041310003572/c61999_pre14c.htm
Based on the recent filing, I have the following breakdown of BVIG shares.
Current Shares 70,000,000
Total Shares When Done 500,000,000
Shares Owned by Ken Stead 67,264,000
Shares Currently Owned by KAT Exploration 65,000,000
Shares Still Owed to KAT Exploration 96,000,000
So, there are currently 70,000,000 shares of BVIG.
The 65,000,000 shares owned by KAT Exploration (KATX) are the first payment by BVIG for the Handcamp property. They still owe 96,000,000 shares.
Seeing how there are only 70,000,000 shares left, and that 96,000,000 were need for complete the purchase, the amount of shares was increased to 500,000,000.
So, when it is all finished, you take the 500,000,000 shares and minus the 161,000,000 owned by KATX. You then minus the 67,264,000 owned by Ken Stead and you have 336,736,000 remaining.
I think the free shares will be taken from the 161,000,000 owned by KATX after the total purchase has taken place.
If I am incorrect, please correct me.
Peace Out - White Cobra
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