In just a couple of months? Massive dilution of shareholder's positions, in my opinion! Massive!
Thye raised the AS from 1 billion to 7 billion?!?
The total shares outstanding for Title Consulting Services, Inc. as of 03-03-2011 were 914,300,000 outstanding with 172,715,000 free trading shares and 741,585,000 restricted shares and 7,000,000,000 shares authorized.
Guess I was right in the post below regarding shares for the merger. This puppy is heading to trips "000" really soon.
There is an apparently very active 504 in progress AND an apparent share issuance for the merger(s). Double trouble.
Your statement referring to the Rule 504 offering, "You have to sell shares to have a merger" are misplaced regarding this particular financing {and the post that you were replying to}. The $1,000,000 funding is for "PROCEEDS TO BE USED FOR OPERATING EXPENSES" and the $1,000,000 offering IS NOT being made in connection with a merger or acquisition. So, that eliminates this 504 offering, and the resultant share distribution, from providing resources to complete any merger/acquisition. That will have to be accomplished with shares from elsewhere, many, many more shares, likely, to come, according to secor's filing displayed below which, again, clearly states that this particular financing is not for a merger/acquisition {red boxes added by me to clearly illustrate the declarations}. It's simply to offset the losses and non-profitablity that TITL has been generating over the past few years, in my opinion. And that's it.
You may be, and are most likely are, right...about the shorting. That almost always goes without saying when there is a convertible note outstanding as secor alluded to, being the case, in a previous press release.
However, the short will likely NOT be burned. The short is probably "working in conjunction with" the recipient of the financing/funding, in my humble opinion. If the short got burned he'd likely refuse to do any FUTURE financing, with the needy recipent {host company}, and could get really nasty with the CURRENT shorting/converting/covering cycle that usually accompanies such potentially toxic, death-spiral financing. Again, that is in my humble opinion. You can only hope and pray that the "force"...remains friendly...and receives strong and steady support, as in continuous press releases, to sell shares/short shares into, to achieve ROI {return on investment, ie: $1,000,000 or whatever amount, of the offering, ends up being purchased}.
The alleged shorting may be short term and can be easily covered in time to stay off the bi-monthly reporting.
AI
