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Re: lmcat post# 14633

Sunday, 07/22/2012 5:59:59 PM

Sunday, July 22, 2012 5:59:59 PM

Post# of 62039
They kept the Series A Preferred Stock intact. So that means this is what happened and is going to happen...

The BOD and CEO voted amongst themselves and passed the 1.5B A/S increase. The reason why is explained in the following post.

http://investorshub.advfn.com/boards/read_msg.aspx?message_id=77724279

They realized they did not follow Nevada state law but still needed to increase either the share count or the PPS to become compliant with Asher. The PPS was raised artificially in order to become compliant with Asher while a Series A Preferred Shares were created to overcome the voting problem. These shares have a 350 vote count per share.

The next time that the A/S increase comes up for vote, they have all the votes they need, and the increase in A/S will easily be approved.

IMO
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