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Re: hmmauto post# 66621

Monday, 08/29/2011 9:25:26 PM

Monday, August 29, 2011 9:25:26 PM

Post# of 105534
The current OS is found in that document.

OS: 68,128,866 May 10, 2011 as per Q1 (after reverse split on 5/9/2011)

The OS is now assumed to be 81,762,984 according to schedule 13-G filed today.

http://www.otcmarkets.com/edgar/GetFilingHtml?FilingID=8125201

Excerpt:

Pursuant to an Order Approving Stipulation for Settlement of Claims between Ironridge Global IV, Ltd. (“IV”) and the issuer on August 17, 2011, in settlement of $260,695.20 accounts payable of the issuer owned by IV, IV is entitled to 100,000 shares of the issuer’s common stock plus that number of shares equal to the claim amount and reasonable attorney fees divided 70% of the volume weighted average price as reported by Bloomberg over a period of time beginning on the date shares are received into IV’s account and ending on the date on which the aggregate trading volume of the issuer’s common stock is equal to $1,042,708.80. Based on the issuer’s $0.08 closing share price on August 26, 2011, that would equate to approximately 4,933,843 shares. At no time may the reporting persons collectively own more than 9.99% of the total number of shares of common stock outstanding.

For purposes of calculating the percent of class, the reporting persons have assumed that there were a total of 81,762,984 shares of common stock outstanding immediately prior to the issuance of shares to IV, such that 4,933,843 shares issued to IV would represent approximately 5.7% of the outstanding common stock after such issuance.







In Reply to 'hmmauto'

Schedule 13-G filed today http://www.otcmarkets.com/edgar/GetFilingHtml?FilingID=8125201 good luck, michael




GLTA... KarinCA ;)

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