Just received an email back from Beneficial Holdings in less than half an hour after writing them late on a Sunday Night. Impressed is an understatement.
Dear Shareholder:
There was no forward split. Rather, there was a six share dividend provided to persons holding free trading stock. This means that for every one share the shareholder had, he received six additional shares.
The issue regarding restricted shares is a legal one. A shareholder normally must hold shares for over one year to have them unrestricted. When we receive a request to unrestrict shares, the transfer agent reviews them and advises us. Everything is done on a case by case basis. We're not in a legal position to provide an opinion as to how many shares could be unrestricted in the near future. We can state clearly that our authorized is 903,000,000 and we have no intention to increase that. The par value of the stock is $ 0.000001. Par value is a relatively meaningless number except for the purpose of internal accounting. You can have a valueless company with a $.20 par value, or a company with many assets with no par value. We keep the par value low because Nevada charges an annual fee based on the par value and its a purposeless expense.
As to Pink Sheets, understand that they are nothing but a stock promotion company. They charge $3,000 per year to join a "news service" that disseminates information only on their website. The entire "rating" system is a ploy for their company to make money. They are not a regulatory agency and their rating system is flawed. There are many companies that pay the fee to Pink Sheets and submit vague or misleading information and it is unchecked by them. They are more interested in collecting their fees. We're strongly opposed to their ratings system as it is unreliable. That being said, we do hope to create a system whereby we can supply additional information to shareholders about operations and revenue. Media Relations Beneficial Holdings
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