Colorado Goldfields Inc. (fka CGFI)

[golden grog]

"The Reverse Split will be consummated through a demand exchange, under which physical stock certificates for the appropriate post-Reverse Split number of shares of Class A Stock will be issued upon the surrender of the pre-Reverse Split stock certificates. Appropriate arrangements will be made for shares of Class A Stock held in book-entry form through a nominee and for shares as to which the physical stock certificates are held by the respective beneficial holders. The exchange will be administered by the Company's transfer agent, Corporate Stock Transfer, Inc., and notices will be sent to holders of record on the record date, which will be the day before the Effective Date."

Am I reading this correctly that everyone, to include MM's, will have to submit pre-reverse split shares to get the new one's, or through a book entry form? Is this a way to trap naked short sellers? Those who have been selling shares they don't have because they thought this company would delist or go bust now have to prove what they have, and have only 20 days to do so? If so, that would work out nicely for the pps. gg