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Re: xangon post# 59335

Thursday, 05/19/2011 6:09:05 PM

Thursday, May 19, 2011 6:09:05 PM

Post# of 86722
The reverse split wasn't to "get out the small players", it was to issue more shares. 15 times more in fact.
On 11/15/10 they executed that reverse split, taking the OS from around 500 million (the A/S) to less than 33 million (1/15th).
Per the latest Q (the T/A is gagged) "As of March 15, 2011, the number of shares outstanding of the registrant’s common stock, $0.001 par value, was 190,384,990."

That's a 575% increase in 4.5 months.

On top of that (and to enable it to take place), there was a third preferred series created, "C" which was convertible to common AND had super voting powers (15 votes for every common equivalent I believe).

I'm afraid the only one with millionaire potential here is Mr. Kenny, who owns tens of millions of common shares and the majority of the preferred C shares as well.

The only thing necessary for the triumph of evil is for good men to do nothing.
EDMUND BURKE (and others)

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