Monday, September 19, 2011 5:21:39 PM
The debenture guys probably told him he had to try because of the ever decreasing pps and if Gary wanted the money.And we all realize Gary wants the money whether or not he does anything for the average shareholder other than create a casino environment.
He has 10 day time frame from filing to stock split.
I would think he would file and only pr if FINRA allows.
"What is a "stock split"?
The division of outstanding shares of a corporation into a larger number of shares (forward split) or a smaller number of shares (reverse split). For example: in a 3-for-1 forward split, a holder of 100 shares would receive 300 shares of the post-split security, In a 1-2 reverse split, a holder of 100 shares would receive 50 shares of the post-split security. In both examples, the proportionate equity in the company would remain the same."
"What documents are required for a stock split?
The company needs to complete the Issuer Company-Related Action Notification Form and submit to FINRA no later than 10 calendar days prior to the record date of the corporate action. Submissions can be set via email or fax to (202) 689-3533. Failure by an OTC Equity issuer to provide the requisite notice may constitute fraud under Section 10 of the Securities Exchange Act of 1934."
Gonna make a difference !
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