What is surprising is the increase to 1 billion immediately following the R/S to 7 million. There is absolutely no logical explanation for it. In fact, on its face it appears completely stupid because it has and will cause the stock to drop like a rock. If the company was looking to raise money through share issuance post R/S, then why send panic throughout your existing shareholder base, and scare off potential shareholders, by approving a plan to sell up to 1 Billion shares? This makes no sense at all. I doubt that they actually want the stock to go subpenny again. There has to be more to this than meets the eye. I am hoping something good does come out of this, i.e., a merger, buyout, etc. However, if this was done solely for the purpose of diluting the shareholders (again) to raise more money through issuance of shares, I will be searching for a class action attorney in Neveda, aside from making complaints to the SEC. I bought on representations made by the company not only pre-split, but especially, post R/S regarding shareholder value. We were lead to believe the R/S was to increase shareholder value. The Class B Shares didn't budge from 500 million, all owned by company insiders. The act of increasing A/S for Class A shareholders to 1 billion only 1 day after finalization of the R/S is not increasing shareholder value. This company has the gold and silver in the ground, a very difficult to acquire mining permit, and is located conveniently in a location where it can mill other companies' ore. It has much more than most start-up mining companies. The executives should remember the representations it has made in its public filings, and PR's to create its existing shareholder base. Just my opinion, for what it's worth. gg
AI
