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Thursday, March 06, 2014 7:59:49 AM
I said NON-EXISTENT preferred shares. The 10MM that were authorized were canceled on 12/6/13.
See the corporate filing linked below (12/6/13). The preferred shares no longer exist per NV SOS and the TA told me none were authorized as of yesterday, which is the same thing I asked and was told by the TA in December.
http://nvsos.gov/sosentitysearch/corpActions.aspx?lx8nvq=jSxp9%252fuQ81vtMpDi7wbFlw%253d%253d&CorpName=MARANI+BRANDS%2c+INC.
But the last OTC filing says otherwise. As of 12/31/13, the filing say 7MM OS 10MM AS.
The corporate filing takes precedent. To put it another way, if they want to issue shares that would bring the common OS up to 850MM, for example, they would have to FIRST raise the AS count for the commons in an amendment, just like they had to file and lower the AS count for the commons.
I'm not sure why this is an issue for the company to cash in their restricted shares to raise funds as you mention.
I never mentioned them cashing in restricted shares. You've said that twice now? What are you talking about?
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