Did you read the proxy statement??
Dear Stockholder:
I am pleased to invite you to attend TelVue Corporation’s Special Meeting of Stockholders, which will be held at the executive offices of The Lenfest Foundation, located at Five Tower Bridge, 300 Barr Harbor Drive, Suite 450, West Conshohocken, PA 19428 on ___________, March __, 2012, at 10:00 A.M., for the following purposes:
consider and act upon a proposal to amend TelVue’s Certificate of Incorporation to retire and cancel its existing authorized Class A Preferred Stock;
authorize and approve a Debt Conversion Agreement;
consider and act upon a proposal to amend TelVue’s Certificate of Incorporation in order to increase the number of authorized shares of TelVue’s common stock, par value $.01 per share, from 100,000,000 shares to 600,000,000 shares and to authorize 22,500 shares of Series A Convertible Preferred Stock; and
authorize the Board of Directors to amend TelVue’s Certificate of Incorporation to effect, in its discretion, a reverse stock split of the outstanding shares of TelVue’s common stock, at a specified ratio of 1-for-200.
Your vote is important. Whether or not you plan to attend the Special Meeting, please vote as soon as possible.
So there you have it, you own 200 shares now you own 1 later, but at what cost?? Would be pretty easy to do the math, if share total available shares were staying the same (amount of the value you hold would not change as pps would adjust accordingly) but they are not; now that not only is there a reverse split but shares increase from 100 million to 600 million, massive dilution. May be setting up for a pump??? A Sale of assets??? You decide. For those of you that argued it had a low float, not anymore...
