Not to worry I am reread your word to word statement...
Our articles of incorporation could be amended at any time by a small group of persons, who control over 50% of the our shares.
On February 4, 2013, the Company entered into a new agreement with QIF Malta 1 Ltd. (“QIF”), for a principal sum of $1,290,000, plus the previous loan amount of $500,000 (dated September 12, 2012), which included outstanding interest, pursuant to a new Loan Agreement (“New Loan”). The outstanding principal balance of the New Loan bears interest at the rate of 8% per annum and does not include a conversion feature. The total amount due of $1,790,000, plus outstanding interest, is payable to QIF in three equal installments on October 31, 2013, November 30, 2013, and June 30, 2014. The New Loan also includes a non-dilution clause, applied to QIF and to five other entities that collectively held a 57% majority interest in Vision.
So far this tells us that 57% majority ownership is controlled by 6 enities, which includes a non-dilution clause. (They will certainly not be voting to authorize shares, duh.) Therefore whatever these enities want, they get.
Add to that the fact that beneficial ownership (insiders) own 27.58%. My numbers are based on the latest 10Q and my proxy vote invite which stated 138,279,647 shares outstanding. Combined between those 6 enities and Vision VIIC insiders. They control 84.58% or 116,956,925 shares,
138,279,647 shares outstanding, 116,956,925 shares "Locked UP". That only leaves 21,322,722 shares. Which leads us to estimate. How many do you have.? After crunching the numbers myself, I believe there are a good chunk of shares that are probably sitting in the pockets of many of the posters on this board. So IMO if you are already in add to it. If you are not in best get in early monday. Replies: Now that Great DD and I'm glad you blanka on 9/14/2014 12:58:43 PM Great DD Follow!!! VIIC OptimusPrime on 9/14/2014 1:16:35 PM