No margin at all, that's 100 shares bought at .0001 plus $9.99 commission. They were planning an R/S with a roundup.
The company, after further discussions with NASDAQ/DTCC and its Transfer
Agent, and the Board of Directors has determined that it is in the best
interest of its shareholders to decrease its issued and outstanding shares
by means of a 10,000:1 Reverse Split prior to issuance of the new common
shares, the same with a decrease in the authorized capital shares from 4.0
Billion to 50 Million (50,000,000) as filed on April 15, 2008 in the
Articles of Amendment with the Secretary of State of Texas.
That for every 10,000 old common shares, the shareholder of record on
effective date (subject to NASDAQ approval) of April 30, 2008, will receive
One (1) Un-Restricted (Free Trading) Common share of GreenGold Ray bearing
a CUSIP# 395257 108.
Subsequently, the shareholders holding old Common shares of record date of
June 1, 2008, will be issued Ten (10) Restricted Post Reverse Split Common
shares of GreenGold Ray as a Dividend, reducing the actual amount of the
reverse split to the originally planned 909:1.
No fractional shares of New Common Stock will be issued to any shareholder,
therefore the minimum number of shares that any shareholder will receive
due to the rounding up of fractional shares and shareholders holding less
than 1,000,000 shares is One Hundred (100) Un-Restricted shares of New
Common Stock and subsequently One Thousand (1000) Restricted Shares as a
Dividend of the New Common Stock; such that beneficial holders of 1,000,000
shares or less of (pre-split) Old Common Stock, will, as a result of the
Reverse Split be issued a minimum round lot of One Hundred (100)
Un-Restricted shares and subsequently One Thousand (1000) Restricted
Dividend New (Post-Split) Common stock, upon the submission of their stock
certificates. Said exchange is Mandatory. In the event any certificates
representing shares of Old Common Stock are not presented for exchange,
then any dividends or distribution that may be declared after the effective
date of the Reverse Split with respect to the Common stock represented by
such stock certificate will be withheld by the Company until such
certificate has been properly presented for the exchange. Shares not
exchanged will, after one year escheat to the state comptroller of the
treasury, unclaimed property division of the beneficial holder's last known
address and company's state of domicile if shareholder known address is
outside the USA.
The actual reverse split effective date will be set by NASDAQ when a New
Symbol for the exchange of One (1) Un-Restricted New Common shares is
published by NASDAQ.
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