Richard,
What's your thinking behind the 100k share float? Shares outstanding (after the 1/250 reverse split) are over 4MM -- (The Company held a shareholders meeting on April 15, 1998. The matters voted upon and passed were 1) The reverse stock split of the 1,033,000,000 issued and outstanding shares of Common Stock on a 1 for 250 basis.)
The following (from the same EDGAR report) doesn't make sense to me:
14. Issuance of Additional Shares. 4,205,530 shares of Common Stock or 85.3 % of the 50,000,000 authorized shares of Common Stock of the Company remain unissued even if all of the Redeemable Warrants are exercised.
Is total of shares and warrants 4,205,530? Where does the 85.3% come from? (4,205,530 is 8.41% of 50MM)
Maybe they meant that if all warrants were exercised that would reduce the unissued stock to 85.3% of 50MM, or 42.65MM. This would imply the number of warrants are about 3.2MM - almos equal to the number of outstanding shares.
Still doesn't make sense to me.
As of this weekend, haven't yet been credited with WSRI or WSRIW in my street name account.
Alan |
