MARKET CAP CLARIFICATION! (note would add 50K more shares, if converted today, not 59M
After speaking with the company, I've been informed that: XRMB has one convertible note payable to individuals, which was reduced in 2011 from $119,406 to $59,000 by a stock issuance. IF converted at the current market price, about 50,000 shares, not 59,000,000, would be added to the outstanding count. Clearly, this has a much smaller impact on the current market value than the aforementioned 59M share estimate.
It looks like someone has either made an honest mistake with the math here OR is making an effort to mislead/scare off investors.
The company did note that knowingly making false statements with the intent to damage is in fact a sue-able offense and they would not be afraid to pursue a lawsuit against any parties attempting to harm the reputation of MyEZSmokes, Inc. through the creation and dissemination of malicious and false statements.
Food for thought and don't shoot the messenger here, folks. Just trying to relay info straight from the company's mouth. Lastly, as always, I'm always open to hear any argument for or against the valuation of penny stocks that I follow. It's also always super to learn about instances where small-cap firms attempt to trick the public, either by omission, deceit, or otherwise. I just don't see it here based on the info I've reviewed to date.
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