Replies to post #9800 on Sunset Island Group Inc (SIGO)

[boston127]

I'm confused on 20M shares at .10.

I thought there were only 4M shares in the Float. Why would an investor pay $1.58 for a share that could be bought at .10? I know there was a change in shares, and business is now beginning to boom, but none of this makes sense.

[loanranger]

I have no idea what you're saying. Are you referring to this?
"Q1. Would the company’s officers consider cancelling their common stock in exchange for preferred stock?
A1. The Company’s officers’ are agreeable to this and will begin the process next week to complete the transfer of the common to preferred. The cancelation of the common would reduce the outstanding share count to approximately 4 million shares."

Please explain your point(s) again.

BTW three days before they they said they "are agreeable to" swapping their common for preferred they committed to doing this:
"In order to provide one more example of how committed we are to both the business and the shareholders, Valerie and I will be locking up our combined 46M shares for the next three years."

Which is it?

You may not want to believe everything they say. They seem to be saying whatever comes into their head that they think shareholders might like to hear.
Didn't they say that they were going to pay a dividend on the common to all shareholders that they would use in lieu of taking salaries? What happens to that if they swap out their common for preferred shares? Would the preferred then pay a dividend? If so, would the common shareholders lose out on their dividend? Where is any dividend supposed to come from, by the way? Do their customers have to front them the money for their reefer?
Again, please try to answer clearly.

Thanks.