Marine Jet Technology Corp (fka mjet)

[dickmilde]

Read the 8K at the SEC web site...

Current shareholders ( 28 million shares ) are going to own 3.8% of the company. If 28 million is 3.8% of the total how many shares are they going to issue? Hint: 3.8% of 740 million = 28 million.

That's why there will be a massive reverse split to bring the O/S count back down.

From the SEC 8K...

After the
payment of certain transaction related fees (including the issuance of the
Company's common stock to certain finders and advisors), the current
stockholders of the Company are expected to own approximately 3.8% of the issued
and outstanding common stock after completion of the transaction with Antik.

The completion of the acquisition is subject to the negotiation and
execution of a definitive acquisition agreement, the delivery of financial
statements of Antik prepared in accordance with generally accepted accounting
principles in the United States of America, and the approval by the Company's
board and stockholders of the acquisition, a corporate name change, an increase
in the Company's authorized common stock and a reverse stock split to be
mutually determined. Subject to the satisfaction of the above conditions and
other customary conditions, the acquisition is presently expected to close in
the second quarter of 2005.

http://www.sec.gov/Archives/edgar/data/1139683/000114420405008890/v015064_8k.txt

Somebody show me where it says that it will be different. Provide the link so I can read it. Thanks.

Dick Milde