Support: 888-992-3836
Copyright © 2023 InvestorsHub Inc.
Replies to post #76635 on Triple 000 and Sub-penny Chart Plays
trader53
10/30/15 5:45 AM
#76636 RE: trader53 #76635
Message From the President of Blue Water Global Group October 21, 2015 / In furtherance of the Blue Water Global Group, Inc. (OTCQB: BLUU) press release issued on October 16, 2015, I would like to address all shareholders, general investor concerns, and provide a detailed update on all aspects of Blue Water's current situation and various business endeavors. Share Price It is our policy not to discuss the share price, whether the stock is up or down. I am going to make an exception this one time since it is the primary question we keep receiving. My focus is building a business with real long-term prospects and growing revenues. Theoretically the share price should reflect what is happening with the underlying fundamental business, but it doesn't always work that way. There is now a huge disconnect between the share price and fundamental business that needs to be corrected. The share price is down as a result of substantial share dilution. The number of Blue Water common shares has increased from 121,645,969 on June 30, 2015 to 686,253,297 as of yesterday, October 20, 2015. This represents an increase of 464.1% in a very short period of time. All of these shares were legally issued pursuant to conversions of debt instruments into common stock by various convertible note holders. On this matter several shareholders have asked me "why not refuse to allow these conversions?" The quick answer is we cannot legally prevent the debt holders from converting their debt into Blue Water common shares. Further, Blue Water is not involved in the issuance of these shares. The mechanism is fairly automated. A debt holder sends a Notice of Conversion to Blue Water's transfer agent, who then issues shares automatically pursuant to the terms of the convertible note. Blue Water receives a copy of this notice and files a Form 8-K with the Securities and Exchange Commission ("SEC") reporting the issuance as required by law. We do not think this continued dilution will stop anytime soon. Blue Water has approximately $1.3 million in convertible debt outstanding. These debt holders may continue to convert - and probably will - until all of the outstanding debt has been eliminated or the number of shares issued and outstanding reaches the maximum authorized limit of 5 billion shares, whichever may occur first.
11/15/15 6:05 AM
#77622 RE: trader53 #76635
11/22/15 1:16 PM
#78352 RE: trader53 #76635