Replies to post #12497 on Banyan Corporation (BNYN)

[flaflyersfan]

gelmonsucks, looked at the S-8 a little closer;

It is for 14 million shares priced after the 100:1 Reverse Split @ .02. This is equal to giving themselves 1.4 Billion more current BANY shares;

(1) Calculated based on Rule 457(h) based on the closing bid price of $.02 on September 5, 2007 (after giving effect to a one for one hundred reverse stock split approved by the shareholders on September 4, 2007).



It is illegal to use S-8 shares to pay for anything but compensation for officers and consultants. Since they hired themselves to be their own attorneys; it is perfectly fine.

Good luck