Replies to post #14012 on Bayside Corporation (BYSD)

[stervc]

Another Casualty, something else to add…

From the BYSD filings:
http://www.otcmarkets.com/otciq/ajax/showFinancialReportById.pdf?id=53188

As of March 31, 2011, the BYSD share structure was as indicated below… (see pages 1 & 2)

Authorized Shares (AS) = 3,400,000,000 shares
Outstanding Shares (OS) = 2,559,304,974 shares
Float = 25,598,527 shares
Restricted Shares = 2,533,706,447 shares

As of today, the current BYSD share structure has been reduced to be as indicated below… (see page 15)

Authorized Shares (AS) = 3,400,000,000 shares
Outstanding Shares (OS) = 2,050,000,000 shares
Float = 443,000,000 shares
Restricted Shares = 1,607,000,000 shares

It appears that although the Float has increased, probably due to some restricted shares becoming unrestricted, the total amount for the OS has been cancelled/reduced by 509,304,974 shares.

Also, where you made mention of the company ”considering” a reverse split in the near future does not mean that they will do one. I have seen in the past where such could go either way.

I do not know the situation behind the scenes to be the deciding factor for doing one or not, but I would hope that the company must know that they most likely would be screwing their shareholders by doing a reverse split which could easily be historically verified within the penny stock world. If you are not reverse splitting the stock to ”immediately” get to a major exchange, then it is redundant to do such. It would not matter if you had “1 share at .10” or “10 shares at .01” as the value for both scenarios is the same .10 value.

There was enough good within the filings which still was enough for me to take my chances and continue holding.

v/r
Sterling