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Microcap & Penny Stocks : 1ST MIRACLE GROUP (MVEE), founders last co. went $0.20-$46
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To: Walter Morton who wrote (4658)10/10/1999 1:05:00 AM
From: jhild  Read Replies (1) of 5541
 
From the October 9, 1999 SEDAR filing:
As discussed in Note 6 to the financial statements, the Company has become aware that it should have registered certain of its securities in accordance with Securities and Exchange Commission requirements in order to have these shares freely traded in the United States. Also, the Company has issued shares relying upon an Ontario Securities Commission exemption from prospectus requirements permitting non-Ontario residents to purchase shares of the Company without the filing of a prospectus (“Offshore Exemption”). While this exemption was available to the Company, there is no certainty that the Company complied with the exemption in all respects. The ultimate outcome of these matters cannot be determined presently. Accordingly, no provision for any liability that may result from the resolution of this issue has been made in the accompanying financial statements.

Later on there is this reference to 1998 shares outstanding and 1999 shares outstanding:
Shareholders' Equity:
Common stock, no stated par value, unlimited shares
authorized, 152,741,721 and 71,263,403 shares issued
and outstanding

The bad news is they lost more money this year than last. The good news is there are more shares to spread this loss across, so the loss per share isn't as bad as it would have been if they hadn't issued all those shares.
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