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Replies to post #13041 on Broadside Enterprises Inc. (BRSE)
Smilin_B
11/16/15 8:28 PM
#13043 RE: EF5$tocks #13041
As indicated by the Company previously in an August 31, 2015 press release, Emaji is currently in advanced discussion to retain a new CEO with substantial experience in entertainment finance and production as well as mergers and acquisitions. The Company expects to finalize an agreement prior to December 31, 2015.
As of September 30, 2015, the Company had issued a total 1,036,296,000 Common Shares during fiscal year 2015. 500,000,000 Common Shares were issued on a restricted basis for the acquisition of the “The Howling” and “Strangeland” rights and 536,296,000 Common Shares were issued for the conversion of existing convertible debt
In addition, as further described in the Subsequent Events section of this filing, since September 30, 2015, the Company has bought back 1.4 billion Common Shares for cash and issued 600,000,000 shares for the conversion of existing convertible debt for a net reduction of 800,000,000 Common Shares outstanding.
After September 30, 2015, the Company reached agreement with its remaining note holders that there will be no further stock issuances to note holders until 2016 and that the note holders will work with the Company to minimize any further issuances during fiscal year 2016. (See “Subsequent Events”) Emaji is currently in negotiation with a significant shareholder of the Company to buy back additional shares, which would provide a further substantial reduction to both the number of Common Shares outstanding as well as the size of the Company’s float.[/I]
[I]addition, the Company has announced that it will not enter into any new convertible note transactions nor will it do a reverse split of the common stock during a 12-month period commencing on April 27, 2015
As of September 30, 2015, the third party is asking $18,000 to return the URL to the Company. The Company continues to negotiate a more reasonable price for the URL and explore all available options available to it.