Viaspace, Inc. (VSPC)

[tommy 9 fingers]

Just remember an R/S will blindside shareholders. one day you will log on and see an 8K. They don't have to warn you.

Remember Kevin now owns more shares of VPSC than Carl Does see page 37 http://www.sec.gov/Archives/edgar/data/1270200/000101968712001183/viaspace_10k-123111.htm

ITEM 12. SECURITY OWNERSHIP OF CERTAIN BENEFICIAL OWNERS AND MANAGEMENT AND RELATED STOCKHOLDER MATTERS

Carl Kukkonen, CEO Total Number of shares and Exercisable Options Beneficially Owned = 95,483,992

Kevin L. Schewe, MD, CEO Total Number of shares and Exercisable Options Beneficially Owned = 92,125,000

So Kevin at the time of the 10K owned 92,125,000 and PR says he just added 5 million shares bring his total to 97,125,000 passing Carl.

But make sure you look a note (c)

Dr. Kukkonen deferred a portion of his 2009, 2010 and 2011 salary and is entitled to 44,394,324 unregistered shares of Company common stock which is not included in the number of shares beneficially owned since they have not been issued yet.

So Carl still would hold more then Kevin once and if those shares get issued.

But make sure you know what that means, it says on page f-4

Common stock, $0.001 par value, 1,500,000,000 shares authorized, 1,333,796,601 and 1,228,651,926 shares issued and outstanding in 2011 and 2010, respectively

and it says this about Carls unissued shares:

which is not included in the number of shares beneficially owned since they have not been issued yet

They have not been issued. That means the are still part of the Assigned shares A/S and not part of the Outstanding shares O/S.

The last O/S was 1,333,796,601

So that IMO means that the O/S will jump from 1,333,796,601 outstanding share to around 1,378,190,925 possibly overnight and you won't know about for up to possibly 3 months


From the SEC:

Reverse Stock Splits

A reverse stock split reduces the number of shares and increases the share price proportionately. For example, if you own 10,000 shares of a company and it declares a one for ten reverse split, you will own a total of 1,000 shares after the split. A reverse stock split has no effect on the value of what shareholders own. Companies often split their stock when they believe the price of their stock is too low to attract investors to buy their stock. Some reverse stock splits cause small shareholders to be "cashed out" so that they no longer own the company’s shares.

A company’s board of directors may declare a reverse stock split without shareholder approval. Although the SEC has authority over a broad range of corporate activity, state corporate law and a company’s articles of incorporation and by-laws govern reverse stock splits.


If a company is required to file reports with the SEC, it may notify its shareholders of a reverse stock split on Forms 8-K, 10-Q and 10-K.

www.sec.gov/answers/reversesplit.htm