Replies to post #26841 on Calissio Resources Group Inc (CRGP)

[janice shell]

So how could CRGP have "the apparent intention of profiting by repurchasing them and pocketing the dividend" if they were not dividend eligible?

As I said in my last post, I don't know what the rule is about issuances made after the record date but before the ex date.

A different question has been raised on another board: If CRGP paid the dividend on those shares, but got it back because it owned the shares, how did it profit? The transaction would be a wash.

CRGP had no way of knowing who sold them the shares they bought or that the owner was dumping hundreds of millions of them on the market.

According to the complaint, they did know from whom they were buying. Nobilis converted debt to common shares, and sold them to CRGP, or to affiliates of the company who then sold them to CRGP.

The only reason CRGP raised the A/S was because they needed the shares for the conversion of that note to the tune of almost 400 million shares.

And why would that cause them to raise the a/s from just under one billion shares a month ago to 3.475 billion today? That suggests there were other large issuances. COR wouldn't know about them; it would only know what was going on with its own clients.