Let me answer that less flippantly... If you owned 87% of the shares of a shell stock... would you dilute your interest by issuing more shares or via a reverse split?
Go back and look at the share count again...
Section 5 - Corporate Governance and Management
Item 5.01 Changes in Control of Registrant
On November 28, 2006, the Board of Directors of Camelot Corporation (the "Company"), acting by written consent, issued 43,000,000 restricted common shares of the Company in full and final settlement of indebtedness in the total amount of $28,752 owed by the Company to Daniel Wettreich its President and Director. This indebtedness was incurred by the Company during the last two years due to its limited cash resources. As a result of the inability of the Company to pay its corporate expenses, and in particular recent legal fees in the amount of $18,741, such expenses were either paid on behalf of the Company by Daniel Wettreich, or the monies needed to pay corporate expenses were loaned to the Company by Daniel Wettreich. Following this transaction Daniel Wettreich now controls 87.33 % of the presently issued and outstanding common shares of the Registrant.
STOCKHOLDERS' EQUITY Common stock, $.01 par value, 50,000,000 shares authorized, 6,236,106 shares issued at July 31, 2005 and 6,236,105 at April 30, 2005
By: /s/ Daniel Wettreich ------------------------- DANIEL WETTREICH, President Treasurer and Principal Financial Officer
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