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RyGuy

07/28/14 1:15 AM

#13535 RE: fireopal #13533

That is not true. Authorized common shares are not used in calculating the ownership percentage of an investor. Only issued and outstanding. If 50 million were issued and outstanding, the other 250,000,000 essentially did not exist yet. The company had the right to issue up to that 250,000,000 to completely new investors if they chose to seek additional working capital.


RyGuy

07/28/14 1:19 AM

#13536 RE: fireopal #13533

The total authorized shares of 300,000,000 had absolutely zero to do with Longview's 90% ownership.

The 90% ownership was based solely upon the issued and outstanding number of 50,000,000 shares of common stock.