Seven Arts Entertainment Inc (SAPX)

[sbc357]

I'm not sure whether it is good or bad.
To me, it tells me that they have now used up that first 25M registered shares (those that were the 25M common stock outstanding of the 50M Authorized shares).
This tells me that there has been sooooo much dilution that they now have to register more shares so that they can have shares available for employee benefits and other possible compensations.
This concerns me: They are now working on using up those shares that will take us up to the 50M authorized shares.
Much more of this, they will be coming out soon and asking to authorize more shares.
Not good in my opinion.

From Sept:

SAE’s authorized capital consists of 50,000,000 shares of common stock, $.01 par value per share, of which the board of directors has allocated 25,000,000 shares as common stock. As of September 1, 2011, there were 6,476,344 shares of common stock outstanding, ... .

That gave us 50M AS with 25M registered that could be issued and thus put into the OS count, and added to the float unless they were restricted when issued.
NOW we have the 50M AS with 30M registered, and probably already a 25M OS, all 25M have probably been issued (some of those are restricted, for how long we have no idea because they never provide those kinds of details) with another 5M that can be issued in the upcoming months - the question is, will they go into the float or be restricted?

Right now it just says they have had a continual dilution fest and they are now coming back for more shares to have more ammunition to dilute our value even more!!!!!!!!
NOT GOOD, IMHO

This is what the US Federal government acts like, coming back every other month to increase the debt ceiling so they can blow it on innumerable wasteful spending sprees.
OMG, I hope something decent can come of this.