according to Jud there was around 29 million shares registered on may 15, with 35 million authorized, so there was only 6 million left for Jack and since the price was 10 cents per share, he could only recoup 600k of his note, so they had to raise it to 70 million authorized for Jack to clear out his note.
I'm sure 10-15 million shares came from the PP they did back in november, when Mr.D was buying 100k blocks and the price kept going down by 1/2 a cent. the rest of the shares were used to make the final buyout of Compass Data and Info, the companies that we are now spinning off.
So, in reality, if they did use shares to buy these other companies, and now we spin them off, to the shareholders, and they do okay, we might just end up getting our money back, I do know for a fact that Jack always said that if worse came to worse, he would spin off compass to the shareholders to bring more value to the over all picture for shareholders down the road, whether it be in BNEZ stock or spin offs, something is going on but who, when, and how remains a mystery.
mitchell |
