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Thursday, December 20, 2012 10:06:05 PM
This was sweet.
Let's walk through this
1)On or about October 1, 2012, ATI exercised its right to sell Five Thousand (5,000) shares of the Issuer’s Series D Preferred Stock (“ SA Preferred Stock ”) to Purizer Corporation.
Step 1 ATI the guys in control sell 5000 of their pref shares to Puritzer. Key point I think these get a new 6 month restriction when they change hands,
Step2 What does ATI get from Puritzer
As consideration for the purchase by Purizer of the SA Preferred Stock, ATI received cash, a promissory note, 8,257 shares of SA Preferred Stock owned by Purizerand 4,559,942 shares of Common Stock of the Issuer owned by Purizer.
So ATI trades 5000 pref shares for 8257 pref shares of the same stock, cash, promissary note and 4.5 million shares of SCRA[Puritzer owns.
Holy moly....why would Purwitzer do that? Because whatever ATI is putting into SCRA is so good Puritzer wants a piece of what is coming.Most amazing part I think ATI just bought back every share and every pref share that was out on the street and could free up soon.... and ATI just locked up those shares up in the ATI vault.
The 54,101,942 shares of Common Stock and Common Stock equivalents of the Issuer acquired by ATI from Purizer pursuant to this transaction are referred to herein as the “ Settlement Shares .” Upon acquiring the Settlement Shares, ATI became the beneficial owner of more than 5% of the outstanding class of Common Stock of the Issuer
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