VRDM,GSHF,INSQ moving
Press Release Source: INSEQ Corporation
INSEQ Announces Equity Conversion
Friday May 5, 10:47 am ET
NEW YORK--(BUSINESS WIRE)--May 5, 2006--INSEQ Corporation (OTC Bulletin Board: INSQ - News) today announced the reduction of its common shares outstanding by 3,000,000,000 shares due to the conversion by GreenShift Corporation (OTC Bulletin Board: GSHF - News) of its 80% stake in INSEQ into 1,000,000 shares new INSEQ Series D preferred stock.
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The conversion will reduce INSEQ's common shares outstanding from 4,948,173,844 to 1,948,173,844 shares outstanding. Additional information on this conversion will be available in INSEQ's Form 8K filing which will be filed later today.
INSEQ also announced its intention to file a registration statement on Form S8 today for 600,000,000 common shares for issuance under INSEQ's 2006 Stock and Stock Option Plan.
INSEQ is 80% owned by GreenShift Corporation (OTC Bulletin Board: GSHF - News), a business development corporation whose mission is to develop and support companies and technologies that facilitate the efficient use of natural resources and catalyze transformational environmental gains.
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