It still doesn't ans. the real question,, why with of a stroke of a pen did insiders give themselves twice the shares they had for no compensation to the company.. Why don't they just give every one twice the number of shares at the same time.. Also why did they delay the announcement of that release almost a month while they were exploding the shares outstanding.. His reply is like most of thier replys boilerplate that says nothing and doesn't bring up the real problem for shareholders.. Constant dilution and constant increase in AS at any time they desire..
ACGX is a share increasing ,, pumping machine.. Investors as the ones preceeding this latest group,, as I was one of when the shares outstanding were but 8.5 Million and EPS projections were well north of $0.10 EPS was/were just as hoodwinked as today's investors.. How can this company trade so cheap with all they have going for it..??? Easy they sell shares for a living and use the company's sales and earnings to persuade those that buy that this is such a bargan regardless of the number of shares outstanding.. Auth. and Management Shares are but a pen stroke away from being increased as they have proved many times over.. It's so easy,, sell shares and when you have none left create more by just taking a pen and giving yourself more and more and more.. If that's not enough all you have to worry about if you control is running out of ink..
The new group of investors/too good to true crowd will never figure it out and when you are about get caught make up another PR and have someone print that ACGX is worth $0.05.. There still are many left that believe and while they still believe sell,, sell,, sell because soon someone will figure it out and then is back to regroup,, reverse time and hybernation until those that are stuck in your trap finnaly give up and sell.. " The Filing doubled the value of his Preferred holdings at a stroke of the pen ".. Looking back over the last couple of years one will find that this is not the first time or IMO the last..
The Golden State Filing is mind boggling. I am not exactly sure what it means, as there is no way they are looking to hold those shares long term.
But the release posted on the ACGX Web site makes sense if you are an insider.. Basically, what it did was prepare ACGX and St. Louis for the inevitable break of 500M in the float, which they knew at the time would have to be reported shortly there after....
At the time of the filing which was 1/7/2014, but not reported until 2/10/14, St. Louis had 500M Voting Rights based on his 100M Restricted Commons and 4M Preferred Shares. At that time, there were 385M in the float, so he was within a couple of rounds of conversions of losing his total control.
The Filing doubled the shares ahd value of his Preferred holdings at a stroke of the pen,,, which increased his conversion rights and voting rights by 400M. He now has 900M in Voting Rights and the potential to convert his Preferred shares into 800M more for a total of 900M Common. Of course, he will not do that, as he wants to keep the Preferred Shares there to change their value as needed. Regardless, he has now given himself total control up to a Float of 900M.
Logically, there was not reason for that filing in January unless St. Louis and Sorkin projected the float to quickly get over 500M.( Which it did on the late promised transparent filing !!!) Could this be because new conversion conversions, or could this even be based upon stock compensation coming up for Sorkin? No way to tell for sure, but regardless, they obviously had reason to make the move to protect St. Louis' control. Sadly, what does the board say? More shares are fine??????????????????????/
And what does management say or worst do ..?? Whenever for whatever reason since we are in control we will give ourselves as many shares as we want whenever we want because we can .. We win ,, the gullabe loose and when we are done we will as in the past just do a reverse and start all over again because we have 10 + million in Revenues and a someone new will pass this great find of information along to his friend so they can/will also see the pot of gold at the end of the rainbow.. ..
All will have to admit this is one slick transparent pumping machine when it wants to be but as with the increase in the change of shares ,, then it's ok to be late as it makes them right every time.. Like posting the short report on thier website,, all now can see since it was reported and the new float it was almost equal to the short that was reported.. Belivers/Doubters will contine to believe/hope but those that don't will continue to have competition to get out from the converters..
Remember the many times posted charity they were giving money to.. Since the first year is over,, did anyone see a PR about how much money was given away and remember the conference that was to be so successful because of Investment Portfolio Mgrs and Wealthy Individuals that were invited (1,000),, including the Gov. of the State of Fl. as a key note speaker....?? Where's the update to that event..?????
It would be really comical that so many believe are still around giving reasons for moves to penny land but in reality sad because of the destruction of capitol that is removed from the Investment Community by a couple of Small time Hustlers from Chicago.. hank
AI
