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matt24d

07/31/12 1:51 PM

#28221 RE: sbc357 #28219

check out this link. The second poster bring up some very good questions.

http://stock-bb.com/seven-arts-pictures-plc-nasdaq-sapx/292-notice-special-stock-holders-meeting-august-2012-a.html


108 million shares does not add up to the numbers in previous filings?
Who gets the remaining 20,000 Amended Series B Preferred Stock?
Is this all on top of 250,000,000 shares? Another 36,000,000 shares to convert the Amnd B Prefs?
And on top of another 20,000,000 employee shares?
Total 306,000,000 shares? EBIT < $1m, therefore EPS<$0.004?
Michery + Shapiro + Rick Smith (Lincoln) ~10% after conversion?
Hoffman now states he controls New Moon? Was that ever disclosed before? What deals done in that company (it appears to be an LLC 60/40 with Voodoo Productions in New Orleans?). Can Hoffman vote those shares on his own?
Palm 125,125 A Prefs convert at $0.15c to 834,166 shares - yet this says 8,341,667 shares. Where is factor of 10x coming from? Are the A Prefs $10 a share?
See Hoffman termination rights: he gets ALL the movies?! When did shareholders know that? Surely affects asset value?
See Hoffman termination payment - $1,500,000 liability not provided for?

looks like a major typo here (inserted an extra 5 in the Lincoln number? WTF?