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Saturday, September 29, 2012 5:25:03 PM
Based on information from the transfer agent, the number of GTGP restricted shares ( 17,926,475 shares, see below) did not change,
therefore
the 1.7 milliion increase in oustanding common shares was an increase in freely tradeable shares.
how can this happen?
easy:
1. The Fallacaros own the 17,926,475 restricted GTGP shares. They are "restricted" because they are officers/directors. However they have held the shares long enough that they can be sold into the market or transferred if they were not officers/directors.
2. GTGP issues 1.7 million common shares to the Fallacaros, a little at a time. Simulataneously (the same day), the Fallacaros sell or transfer the same amount of shares (from the old batch of shares) that they received from GTGP - thereby keeping their ownership of GTGP shares the same at 17,926,475.
3. AT the end of each trading day, the Transfer Agent only sees the net ownership of shares by the Fallacaros, which doesn't change. Net result is that 1.7 MILLION common shares are issued and the restricted shares stay the same, but the Fallacaros have netted the amount from selling/transfering those 1.7 million shares.
Let's take the time to verify this with the SEC filings of GTGP by reviewing their form 4's.
Oops, can't do this because, just like a true scam company, GTGP is not current on its financials or form 3 and form 4 filings with the SEC.
Quote:
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GTGP issues 1.7 million new common shares
Pacific Stock Transfer Co.
702-361-3033
Wednesday, September 26, 2012
Common Shares Outstanding
40,478,420 (increase of 1,700,000 from previous 38,778,420)
Restricted Common Shares Outstanding
17,926,475 (no change from before)
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