Replies to post #22997 on Propellus Inc (PRPS)

[arizuela]

EastCoastCdn, SSOL effected to the 2Q 10-Q reports, pre-issued, a reverse split on July 20 and was voted on and approved on July 24. This is done for clarification because the R/S was not done in the reporting period, but after. It was not filed until July 31 and took effect to shareholders on Aug 10. Yes, SSOL knows what they are doing.

Arizuela

Does SSOL even know what they are doing?

Does this make sense???
They filed for a reverse split before they even voted on it.

Quote:
On July 20, 2012 the Company effected an 1 to 500 reverse stock split, thus all the stock shares were stated as post-split in this footnotes.


Quote:
After the reporting period, on July 24, 2012, our board of directors and a majority of our shareholders approved an amendment to our Articles of Incorporation which increased our authorized common stock to 7.5 billion shares. In addition, our board of directors and a majority of our shareholders approved a reverse split of our issued an outstanding common stock on a basis of 1 for 500. The reverse split was effective August 10, 2012. In connection with the reverse split, our common stock was assigned the following new CUSIP number: 86802Y203 .

[EarnestDD]

The entire R/S was poorly done by SSOL ... it certainly appears that they violated Nevada state laws by not having a majority vote on the matter.
I am wondering what the Pref Shares terms are.
jmo