2.4.2011"VCTY addresses large OS
Addressing a shareholder question regarding the company's potential hydro merger: If management decides to proceed on an all-cash basis, then 1.5 billion shares will be financed or used to get the cash. If it abandons the deal altogether then, yes, 1.5 billion shares come back to treasury or stay in escrow for another merger. It's one or the other, not both. The same scenario applies to the 300,000 shares for the acquisition of the video company. The company is hiring an additional IR rep in Hong Kong who will liaison with the Chinese company and be close to the action to report back to shareholders. The telephone number and name of the Chinese rep will be released shortly." - (quoted from Friday Tips 2.4.2011).
The 1.5 billion shares (allocated to the hydro company) and the 300 million shares (allocated to the unknown video company) were detailed in the July 19th 2010 filing on pinksheets... the filing that stated:
"VCTY management will further allocate 1.5 billion shares at $.008 per share (shares in the value of $12 million USD) to the China Hydro Company upon completion of the merger with VCTY.
The management also intends to allocate 300 million shares at $ .008 per share (shares in the value of $2.4 million USD), for the pending merger with the US based, video rental company.
Should these mergers not come to a fruition the above shares held in escrow will be returned to the treasury and or the company may without advance notice reduce its authorized share structure."
They have no hydro merger as far as we know and there has no detail about a video rental company in 7 months.... why are there 1.8 billion shares in 'escrow' (which are really in the OS/AS) when those mergers are not imminent or even spoken of? Why would VCTY not retire those shares until a real merger is ready to finalize? A lower OS/AS would surely have a positive effect on the PPS and shareholder confidence, but instead of reducing the OS, VCTY has kept that 1.8 billion share amount and added additionally to it since...
