Seven Arts Entertainment Inc (SAPX)

[sbc357]

Gotta say that I think you have #1 an 2 wrong here:
#1: "dividend to stockholders who owned shares of common stock on August 31, 2012, which serves as the record date. The Warrants will expire on June 30, 2014 and will be exercisable at $.03."

This was done specifically to INCLUDE all those sharesholders suckered in before the RS. That was why they wanted them to be shareholders on the record date of Aug 31st - THE DAY BEFORE THE RS. It was to ask those shareholders to hold through the split and the company's plan was to reward them with these warrants - which is what they did.

#2 "The Company plans to file a registration statement with the Securities and Exchange Commission in the near term, which, when effective, will permit public trading of the common stock issuable upon exercise of the Warrants."

The company did just register the shares. That is what the S-1 done on Jan. 22 was all about.
http://xml.10kwizard.com/filing_raw.php?repo=tenk&ipage=8665446

The shares are NOW registered and ready to be sold once peeps exercise their warrants - (of course, only if the stock goes above .03).

As for #3: Scary thought!