Replies to post #1030 on Nephros Inc (NEPH)

[diannedawn]

Read their latest filing...
we will be getting our proxy voting materials soon (mailed already it says)

I'm guessing if everything is approved on Jan 10 (the stockholders meeting date) they will go ahead with the rights offering as soon as the SEC lets them. The RS will happen as soon as the rights offering closes.

So have money available to buy your .02 shares and warrants in Jan/Feb.


the part of their math that I don't understand is

"FOR the approval of the amendment to our Fourth Amended and Restated Certificate of Incorporation to effect a reverse stock split of our outstanding shares of common stock with a ratio of one share for every twenty shares of common stock and concurrently to decrease the authorized shares of our capital stock from 905,000,000 to 95,000,000 shares and the authorized shares of our common stock from 900,000,000 to 90,000,000 shares"


905,000,000 divided by 20 = 45,250,000 yet they say "95,000,000"?
900,000,000 divided by 20 = 45,000,000 yet they say "90,000,000" ?


further along in the filing they have a chart...
those numbers add up to the 90,000,000 in the "after" section.

What the hell kind of math are they using???

looks like 1 for 10 split not 1 for 20...

I hope to call them today.
Anyone available in the neighborhood to go to the meeting obn the 10th?