Charles,
how is the math to get to these numbers? How can there be 130m shares outstanding if only 100m are authorized. How can they sell 1.3m series K if in the S8-Form only 500,000 are mentioned?
And last but not least what´s wrong with the series q? Are they convertible to 10m or 25m shares?:
10Q filed on 19 August
Certain consultants received 250,000 shares of Series Q Preferred Stock which are convertible into 25,000,000 shares of Common Stock of the Company.Such shares have been valued at the fair market value and have been charged to the cost of the acquisition.
Whereas the 8K filed 10 June says:
There shall be issued to the persons designated on
Schedule 1.1 (v) 250,000 shares of ISG's Series Q NonCumulative Convertible Voting Preferred Stock ($100 stated value ) (the "Series Q Preferred Stock"). The Series Q Preferred Stock shall
be convertible into a maximum of 10,000,000 shares of Common Stock and a minimum of 6,250,000 shares of Common Stock of ISG.
Regards,
Max Ghellere |
