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Re: None

Monday, 06/06/2011 2:47:35 AM

Monday, June 06, 2011 2:47:35 AM

Post# of 38048
Let me repost this without the personal attacks. Nothing wrong with a little honor in debate and give some issue for later (tomorrow, whatever) for whoever wants to. Due to there is definitely some things and real DD missing and some error in some of the statements and response to things that weren't or were said. But I'll let it be the last word for now, getting late.

JB, as I said before, the Certificate of Designation (something that is all "nice") states the rights and privileges of that class of shares. They cannot be changed. You keep referring that the company can alter it and convert them at very nice conversion rates. In no way can these convertible shares be converted at any ratio that would cause the common to pass the 2.5 billion share level, even if the company increased the A/S or not. The conversion is "set in stone".

The SOS of Nevada would not have accepted the filing. PERIOD.

If the Company desires to increase the A/S and issue new common shares is one thing. But the Preferred shares do not have any impact pass the 2.5B point.



Nevada Revised Statues and I wont give you specific sections and sub-sections, because each issue refers to a specific sub-section (too many to name in this case). But start with Chapter 78. Everything you need to know about that is in Chapter 78, AND, no it is not just a BoD vote. As I mentioned, it is a shareholder vote as the change in one class impacts another class. You can find it in Chapter 78.




Maybe one can post that "Certificate of Designation" so we can all see what exactly it says. Maybe post on how BNPD is going to be different than all the pinks that dilute, increase share structure, convert shares ("nice" can be only one to one, all depends, it's money no matter what to the ones who have them), and cause the value of shareholders to go down by the actions of dilution, increasing A/S sometimes many times over a year, conversion, etc.

Of course we don't know exactly what BNPD is going to do, but it will dilute, no doubt.

If one wants to study the idiosyncrasies of the "law" and SEC chapters and verses, great. But one thing to remember, is that these pinks find there way around all of them, even go against them. The violations are so rampant, the SEC can't even begin to get to them all. And yes, even things slip by the State, just the way it is in the pinky world.

What the bottom line is, is what the retail thinks of this company and how much money retail can spend on buying the only asset this company has, shares. One can "brain fill" all they want with all the specifics, but any company shell pinky can work with all that, and the bottom dollar is what and how they dilute.

Those convertable shares can be an issue in the future. Money for the shell owners and more debt, and for one to just ignore them thinking the SEC or state rules are going to save them are just setting themselves up.

But great to debate them and acknowledge that there are some rules out there and try to comprehend a small portion of them, just not sure how much the effect in pps it will have or how this new company will handle the "financing" and share structure. It's all just speculation.

But hey, A/S of common and Authorized convertible shares don't mean a thing, ignore them as if they are invisible. LOL Good luck in all the trades.