Replies to post #20181 on 3Power Energy Group Inc (PSPW)

[ragmuff]

Worth a call in the AM thanks.
PSPW!!!

[stockvader]

O/S remains the same at least, while float seems to be maxed out as PPS moves higher. Not the end of the world imo.

[sctts]

Thats a overnight surprise,
So outstanding shares remained the same, the 27 million shares added to the float are Rudana's?

[jwblue74]

That is incorrect. The Float is currently 19,616,262. The Company just elected Toby Durrant on 14 Apr to the Board of Directors and Rudana had the majority vote controlling 51% of the Company which totaled 20,498,638 shares. The O/S at that time was 40,114,900. So, there is no way Rudana sold around 17 million shares on the open market since the record date of April 1. I don't even think we have totaled three million shares traded all month. Also, why would Rudana give away controlling rights of the Company.

Special Meeting of Shareholders for Election of Director

On April 14, 2011, 3Power Energy Group Inc. (the “Company”) held a Special Meeting of Shareholders (the “Special Meeting”). At the Special Meeting, Mr. Toby Durrant was elected to the Company’s Board of Directors. Mr. Durrant has served as the Company’s Chief Investment Officer since January 26, 2011, and has served as the Company’s Acting Chief Executive Officer and Chief Financial Officer since February 25, 2011. At the record date of April 1, 2011, the Company had 40,114,900 issued and outstanding shares, of which 20,498,638 shares, representing 51.1% of the Company’s issued and outstanding shares, were represented at the Special Meeting and voted for the election of Mr. Durrant to the Company’s Board of Directors.