They issue new shares, 96% IS WHAT NEW GUYS GET....You have 300 million shares o/s, that means they issue another 11billion 700 thousand shares to the merger people. 12 billion shares, 11.7 billion is 96% of new shares o/s...of course they will do a massive reverse split also, only an idiot leaves their company with 12 billion shares.
The 8k says DM Products is giving Iris 96.75% of the outstanding shares.
DMPD Security Details
Share Structure
Market Value1..........$612,678 a/o May 08, 2013
Shares Outstanding......306,339,011 a/o May 08, 2013
Float...................124,487,594 a/o May 08, 2013
Authorized Shares....400,000,000 a/o May 08, 2013
Par Value 0.001
They cant give them 96% of shares currently outstanding other people already own those shares, they always issue new shares for a merger...96% new shares on a stock with 300m equals 11.7 billion new shares. This is a horrible deal, 96/4 split, shareholders here get raped and only end up with 4% of the new company.
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