InvestorsHub Logo

MasterBlastr

02/19/07 9:51 PM

#1817 RE: finbar99 #1816

I would expect this change of control would occur after the Chapter 7 is discharged, after the processing of creditor and government (IRS) claims, with any remaining distribution remaining with the estate (and distributed to common shareholders) depending on the success of the actions of the Trustee. But we are not at this point yet, and might not be for some time, it would seem.

FYI as few as 46M and as many as approx 66M out of 80M authorized shares have already been issued and outstanding prior to the Chap 11 filing. This number is not clear as R.E.M. appeared to have given out unauthorized and unregistered shares. The share count reconciliation has not been performed to this day to my knowledge.