I posted this last week here it is again. This is the filing by SCTI, read it.
edgar-online.com
1) If they reverse split 1 for 22 @ current pice of $ .23 (vote is for up to a 182 for 1 split) to bring it to $5, effectively the authorization apporved for 75,000,000 new shares = 1,650,000,000 pre-reverse split shares. Or a possible 13,650,000,000 shares (yes billion)if the do the 182 for 1 split.
2) Mr. Copland is getting 15 $100,00 a piece pfd shares convertible into common stock at 12 shares to the dollar. This equates to 18,000,000 new shares or 396,000,000 pre-reverse shares at current prices. Though it can go as high as 3.3 billion shares if the stock does a 182 for 1 reverse split.
3)They also want to authorize the issuance of 5M pfd share. What are the terms of these shares? Same as Mr Coplands.
Always do your DD before buying. |
