Replies to post #3891 on Rightsmile Inc (RIGH)

[eburg]

The conversion from common to preferred took those shares out of the O/S which at the time was just over 1 billion. The current Float is around 727 million.

[EHubair]

Thats most likely correct...The company had 280 million outstanding at par value of .001.

Then dropped the bomb of raising the authorized to 1.5 billion at par value .0001.

thats why this stock dropped to this level, the huge increase at a 1000% drop in par value from the original structure.

I was a purchased in the first 280 million structure, and feel the company should reimburse me 15 shares for each one I purchased prior to there .0001 par value dilution in the same common stock market.

IMHO

if 280 million existed, and 500 million converting to preferred then 780 million accounted for and the dilution of an additional 450 million used in the open markets then 1.23 billion are in hands already, and the company prolly only has 40%( or less) ownnership and controlling interest at this time.

This is beginning to smell of a hostile takeover through stock ownership, through retarded officers in the control seats.

I wonder who is absorbing all these shares

IMMHO