DEF 14C is posted to SEC site today.
As of June 18, 2006, there are 637,811,446 shares of common stock issued and outstanding. The immediate effect of the Reverse Split will be to reduce the number of presently issued and outstanding shares of Common Stock from approximately 637,811,446 to approximately up to 91,115,920, thus leaving 908,884,080 shares available for issuance following the Reverse Split. We have no plans, proposals, or arrangements, written or otherwise, at this time to issue any of the additional authorized shares at his time.
I wonder if this really means no more dilution of just that they may use preferred stock this time instead on common. Or does issue not include "sell" to cover expenses? |
