Something else that could be questioned is a statement that was made in a filing back in late February as to the reasons for increasing the share count. If I remember correctly, in the filing on Feb 22,2011 they made it sound as though there wasn't any rush to use the new shares. Well, here we are less than 7 months later and almost all of the 5 billion new shares authorized are gone.
I looked up that filing and here is part of what it said.
"The Company’s Board of Directors believes it advisable to amend the Company's Certificate of Incorporation to increase the authorized common stock from five billion (5,000,000,000) shares to ten billion (10,000,000,000) shares of common stock. As of the date hereof, there are 4,956,321,980 shares of common stock issued and outstanding.
By increasing the total number of shares of common stock the Company is authorized to issue to ten billion (10,000,000,000) shares, par value $0.001, management believes that the Company will be postured to consummate a possible merger or acquisition of a suitable target as such situations present themselves, as well as better positioned to raise capital from the sale of our common stock in the future, although there are currently no plans to do so now.
And further down the filing they said this:
"The proposed increase in the number of authorized shares of common stock would give the Company the necessary shares of common stock to use in connection with current and future capital raise transactions, use in employee benefit plans, acquisitions, mergers and other corporate purposes. We do not have any plans, arrangements or agreements to issue any of the newly available shares.
Wow Troy, you sure went through those shares awfully fast.
As always, treat it like a Pink!
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