Replies to post #48640 on Red Giant Entertainment, Inc. (fka REDG)

[Penny_Island]

37, you are correct. OS is 2.733. I threw 3.0 out there as that is what is authorized so make the math simple. I don't know where he gets 6.0 from and to be honest, I know he has other motives as if he doesn't own shares (or so he says).

It makes no sense to spend so much time watching a company you don't own.

Penny_Island

[duke2742]

Read your 10 k. And the company has 6 billion shares

[duke2742]

This is from your 10-k:

If notes and accrued interest were converted as of August 31, 2014, there would be approximately 2,693,271,000 additional shares to be issued.

This is also from your 10-k:

In accordance with convertible note agreements, delinquent filings of our annual and quarterly reports are subject to default provisions. As of the date of filing, we are delinquent in filing this annual report for the year ended August 31, 2014 and in filing our report for the quarter ended November 30, 2014. These delinquencies trigger defaults in the terms of outstanding loan covenants for which monetary penalties are accruing. We estimate these costs to be approximately $152,000, which satisfaction will require additional issuance of common stock, in accordance with conversion terms of those agreements. We estimate that an additional 315,000,000 shares of common stock will be required to be issued in satisfaction of these terms.

That gets you real close to 6 billion.

NOTE:
That was from the end of August 1014. It is now May 13,2015 and the monetary penalties are still accruing. Do some DD and you can clearly see which ones are not paid yet.