Metapower International Inc. (MTPR)

[Fasctrack]

I have a feeling that a reverse split is waiting in the wings IMHO. From the Annual Report:

"Although our plans to raise additional capital were not fulfilled in 2011, we intend to continue to pursue new investment in 2012 to better capitalize our company."

I know the Company talked about issuing new preferred shares of classes A & B that would be convertible into common. The problem is that commom shares are used up (unless restricted shares can become unrestricted). Without available common shares, it seems that the company has to increase the number of authorized shares. At 2.2 billion currently, I imagine that the company would first do a reverse split to lower the number of outstanding shares (which I believe also lowers the total authorized), and then approve an increase in the authorized to make room for the conversion of newly minted preferred shares into common shares. Based on the company's past history of reverses, I would horrified but not surprised to see another. All of this is solely my musings and IMHO!!