The reverse split will only effect outstanding common shares. Are those preferred
stock converted yet? If not then they will not be effected by the reverse split.
Now does everyone understand what the heck is going on!!
ISGI said there are 86,514,596 shares outstanding. Let try to find were that number
came from.
Shares
Beneficially Percent
Name Owned(1) of Class
---- -------- --------
Joseph L. Lents (2) 6,093,500 6.7%
C. Denning Loveridge(3) 2,634,500 3.0%
John Loveridge(4) 2,634,500 3.0%
Donald Booth(5) 23,183,351 26.8%
Arnold Salinas(6) 1,333,333 1.5%
Platina Technologies, Inc.(7) 10,433,333 12.1%
Reinerman Holdings, Ltd.(8) 5,223,974 6.0%
SMS Capital Services Corp.(9) 2,000,000 2.3%
Booth Family Trusts(10) 2,849,000 3.3%
Caspian, Ltd.(11) 2,500,000 2.9%
Walter Cecchini(12) 800,000 0.9%
Fred Griffin(13) 600,000 0.7%
All executive officers and
directors as a group
(6 persons) 37,456,184 38.4%
Now add the float,whatever it is I think 20,000,000 plus 33,000,000 for the acquistion
of TWT(that were Booth and the others got there shares from on the table), to 37,456,184
and what do you get that 86,000,000 number prior to the conversion of the preferred stocks!!
Holy sh%#@&*t!!! Please tell me I'm wrong! |
