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The Rainmaker

01/08/11 11:45 AM

#22122 RE: Welsh_Dragon #22121

Filing doesn't say up to 1 for 50, filing says 1 for 50. Emails are crap, filings are gospel. Not up to 1 for 50...Exactly 1 for 50 per filing.

On December 10, 2010, the Board of Directors of the Company approved a 1:50 reverse stock split
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CluelessStockJunkie

01/08/11 11:46 AM

#22123 RE: Welsh_Dragon #22121

Conversion is not delayed but for it to be free trading it is delayed 12 months. Also they are subject to the 1% rule so it is not like they can just unload all the shares the way Rainmaker is alluding to.

SEC RULE:

If you are an affiliate, the number of equity securities you may sell during any three-month period cannot exceed the greater of 1% of the outstanding shares of the same class being sold, or if the class is listed on a stock exchange or quoted on Nasdaq, the greater of 1% or the average reported weekly trading volume during the four weeks preceding the filing a notice of sale on Form 144. Over-the-counter stocks, including those quoted on the OTC Bulletin Board and the Pink Sheets, can only be sold using the 1% measurement.