$FROZ (MIMCO)~ Merger deal >
FROZ a very, very complicated takeover/merger situation with variable amounts of common shares being given out based on price averages. But the new owners (Miami Ice Machine) have the option to take preferred shares instead, which I think they will do since FROZ recently raised the authorized preferred share count. If they took preferred, that would keep the common share count low enough that we'd easily see .05 or higher on MIMCO fundamentals. Of course they could always dilute it down to .0001 but that doesn't do anybody any good.
Here's the deal:
"On February 22, 2013, Frozen Food Gift Group, Inc. (“Company“) entered into a Stock Purchase Agreement (“Agreement”) with all of the shareholders (“Shareholders”) of Miami Ice Machine Company, Inc. (“Mimco”) whereby the Company purchased all of the outstanding shares of Mimco from the Shareholders, making Mimco a wholly-owned subsidiary of the Company. Pursuant to the Agreement, the Company shall issue to the Shareholders a total of $880,000 of restricted Company common stock in exchange for all Mimco shares. If, at any time during the period of two years from the closing date of February 22, 2013, the average closing price of Company common stock as listed on the OTCBB falls lower than twenty percent (20%) of the share valuation of $0.05 for at least twenty consecutive days, then the Company shall promptly issue to the Shareholders that number of additional shares such that the Shareholders receive a total amount of shares (including those originally issued at the February 22, 2013 closing) that equal the $880,000 purchase price."
The price has been below .05 for way longer than 20 days so the MIMCO people have received many more shares than the original $880,000 worth they got at .05.
The next round of news/filings will help clarify things.
