Noticed this sentence in the SEC filing dated Jan 30th, 2013:
Under Section 14(c) of the Exchange Act, the transactions cannot become effective until on or about March 8, 2013.
Transactions refers to the one for 50 reverse split, name change to Sanwire Corp and increase in authorized shares to 750,000,000.
That seems a huge number to be effective after the reverse split - would equal 37.5 billion pre-reverse shares. No upper limit to the dilution possible. It may be that 750MM is pre-reverse but sure doesn't state it that way by my reading of the filing.
That one day burst of transactions on Feb 28th 2013 seems all the more odd since nothing has transpired since that day:
All transactions since 2/28/2013
Price Size Exch Time
$0.0095 8,000 OTO 11:00:05 03/06/2013
$0.0097 6,000 OTO 03/05
$0.0034 10,000 OTO 03/04
$0.0034 1,000 OTO 03/04
$0.0100 4,000 OTO 03/01
$0.0032 1,630 OTO 03/01
$0.0100 4,999 OTO 02/28
Prices bounce from .003 to 0.01 in consecutive transactions - thinly traded and erratic. Will be interesting to see what if anything happens on and after the March 8th date - that's the earliest date the reverse could take place - nothing says it will happen that date.
Is everybody in wait and see mode? Still no website for NT Mining - the placeholder simply says under construction.
Just noted the list of name changes for this enterprise
Company Notes
Formerly=777 Sports Entertainment Corp. until 11-2008
Formerly=Oasis Information Systems, Inc. until 2-05
Formerly=1st Genx, Inc. until 10-01
Formerly=1st Genx.com, Inc. until 4-01
Formerly=e-Vegas.com, Inc. until 8-00
Formerly=e-Casino Gaming Corp. until 6-99
Formerly=Clear Water Mining, Inc. until 3-99
Currently NT Mining but soon to become Sanwire Corp.
Lots of prior ventures - mining to online gambling to hotel room movies to
Anybody around in the 777 era to comment on how that ended or morphed to NT Mining? Looks like a shell for all seasons with years of losses and to date no continuing venture. New hope is apparently the former iPackets mine safety endeavor with Mr. Kanno at the helm. This scenario of name, symbol and focus changes every 3 to 5 years is familiar in the penny stocks.
rjw/mkc
