Here is the response to the question of us getting free shares its the Gov fault or you stupid share holders did you really believe that We already "HELPED" you with an R/S. Talk about ungrateful.
edoorways says:
February 7, 2012 at 4:06 pm
You are correct approximately 15 months ago we contemplated doing a public spin-off of a learning company with a pro-rata distribution of shares to EDWY shareholders. Now we have created Learning Research Inc as a wholly-owned subsidiary of EDWY and its shareholders.
When we did our research 15 months ago we discovered that the government was contemplating a new policy whereby its agencies (DTC and FINRA) would authorize “chills” for any PinkSheet public companies that initiated corporate actions (i.e., changes like reverse splits, mergers, acquisitions, and share re-distributions). A chill is the last thing you want to happen, so we decided to put our contemplated issuance of shares and the creation of the new company on hold.
Unfortunately, we all know that the government has done exactly what we feared. They (DTC) put a chill on our stock when we had to enact our reverse split. We are still under that chill and it has severely limited our activities. Hopefully it will be lifted soon. We have asked Merrill Lynch to act on our behalf as our agent to get it removed.
Having said that, the last thing we need is for DTC to issue a second chill for our issuance of shares in LRI. So for now, a pro-rata distribution of LRI shares to our shareholders is not a possibility. Of course, things can change. After we are audited and go back on OTCBB we will revisit the issue.
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