Friday, August 12, 2011 4:42:33 PM
Thanks for the reply, I have found the material has been updated. Unfortunately, it leaves a new question. The following statement is still there:
"Fractional Shares
No fractional shares of CVE common stock will be issued as a result of the Spin-off. In the event the Spin-off
leaves a stockholder with a fraction of a share of CVE common stock, the number of shares to be distributed to the
shareholder will be rounded up to the nearest whole number of shares. Ownership percentages are not expected to
change meaningfully as a result of rounding up fractional shares that result from the Spin-off."
An earlier paragraph also describes that stockholders will end up owning both CAVR and CVE:
"Following the Spin-off, our stockholders will own shares of CVE and
continue to own shares of CAVU. CAVU will continue its existing business, including but excluding the drillingservices operations after completion of any outstanding placement or service orders received in the ordinary course"
If all shares are converted and rounded up, shareholders wouldn't be holding shares of CAVR. And to be fair to CAVR, if someone owns 1 share of CAVR beyond what is divisible by 40, such as 121 shares, is it your intent to give them 31 shares? On such a small scale, it would not be a gross problem, but there is almost 200 shareholders at this time.
Lastly, one investor on IHUB had questioned that there was no mention of the trucks for saltwater, nor the saltwater disposal wells that were mentioned in the interview with MoneyTV. From a legal standpoint, we can't just assume they go to CVE. Although a minor issue, the information provided was not reflective of the most recent acquisitions and operations.
FEATURED North Bay Resources Announces Mt. Vernon Gold Mine Startup, Sierra County, California • Aug 5, 2024 9:00 AM
Fifty 1 Labs, Inc. and All-In-Extracts Announce Joint Venture to Develop and Release New Testosterone Boosting Supplement • BLEG • Aug 5, 2024 8:30 AM
Kona Gold Beverages, Inc. Announces Strategic Initiatives and Corporate Direction Changes • KGKG • Aug 2, 2024 2:00 PM
POET and Luxshare Tech Expand Product Offerings for Artificial Intelligence Networks • POET • Aug 1, 2024 9:28 AM
Management Discusses Financial Filings of Global Arena Holding Inc., for 10-K 2023 and 10-Q, 1st Quarter 2024 • GAHC • Aug 1, 2024 9:14 AM
VAYK Announces LOI to Acquire $1 Million Home Service Company to Support Airbnb Business • VAYK • Aug 1, 2024 9:00 AM