Okay, my head is trying to wrap around this, since it was taking so long to get a response to my email, and we are all waiting while holding our breath, I decided to call Action Stock Transfer and I just talked to Justeene Blankenship, President of Action Stock Transfer Corporation and it is Official, the O/S is 190,010,713 shares as stated in the PR.
"I can very confidently confirm that we have retired 43,817,855,923 common shares resulting from this Corporate Action," said Justeene Blankenship, President of Action Stock Transfer Corporation.
The official new A/S is still unknown until there is an update to the state information.
Justeene stated that it was a buyback by the company and the shares were retired, they are gone. So if we use the current numbers off of Pink Sheets, here is what we have.
Original as of October 07, 2010 Shares Outstanding 200,000,000 a/o Oct 07, 2010 Float 90,053,890 a/o Oct 01, 2010 Authorized Shares 50,118,000,000 a/o Oct 01, 2010
After PR today and confirmation from Justeene Blankenship on the O/S (which is all that Justeene can confirm, the A/S and the FLOAT we have to confirm from the CEO Justeene stated),
Shares Outstanding 190,010,713 a/o Oct 18, 2010 Float 90,053,890 a/o Oct 01, 2010 Authorized Shares 50,118,000,000 a/o Oct 01, 2010
Authorized Shares 50,118,000,000 a/o Oct 01, 2010 - 43,817,855,923 = 6,300,144,077 Shares left authorized.
I was told by Justeene that there was a Reverse Split back in June of this year, and that there is not going to be another one because he the CEO did the buyback. So there is no need for another Reverse Split. Well I guess I can sort of agree with that considering that the CEO can do a Reverse Split any time he wants to.
And I also understand from Justeene that they have the name of the current shareholders who are holding certificates. And the stock does have a value apparently of .0231 as stated in the PR.
Notice the statement in the PR is not by the CEO who might say anything to get people to buy, but by the President of Action Stock Transfer, and she is not going to state something false, she has to report all of this to the SEC.
Again Justeene's statement,
"I can very confidently confirm that we have retired 43,817,855,923 common shares resulting from this Corporate Action," said Justeene Blankenship, President of Action Stock Transfer Corporation.
So the only question is, why are the Market Makers holding this stock down? a few possibilities cross my mind.
1) Of the 50B+ Authorized, there are still about 6B that can be sold into the O/S.
2) The MMs have shorted this stock all the way down here to .0001, therefore they do not want it to go back up, because then they are losing money.
3) The O/S is truly only 190M and of the amount left in the FLOAT there is an estimated amount of only 22M left based on today's and last Friday's trading. So once that is bought up, then Racereview is correct, this will run hard and fast, but I you will have to follow the chart and play the resistances in order to understand the nature of the way this stock will trade.
So that is my DD for the day. We shall see what happens, but I am only buying a small position of about 5M to see what happens here.
GLTA!
Never assume anything, and always do your research.
AI
