An email from Sitra that was posted on Yahoo:
"Yes, it is true that Great White has made Form D filings with the SEC. However, the gentleman who revealed
this information to everyone came to a very erroneous conclusion on limited data.
Before I go on, though, I should explain a little about what a Form D filing is all about. Form D is a general form
required by companies who have issued securities under the laws governing Regulation D. If you have never
seen a Form D it is more of a formality and very generic in nature.
Regulation D, as promulgated under the Securities Act, has three basic categories: Rule 504, Rule 505, and
Rule 506. Rule 504 is a set of exemptions allowing a company to sell up to $1 million in securities; Rule 505 up
to $5 million with a few additional restrictions; and Rule 506 for up to an unlimited amount in securities with
even more restrictions than Rule 505. Regulation D allows for the sale of any type of security: common stock,
preferred stock, senior or junior debentures, convertible debentures, warrants, rights, units, etc.
Hence, just because Great White filed a Form D does not mean it issued any Common Stock.
Great White issued a number of shares of Common Stock earlier this year under the exemptions of Regulation
D, Rule 504 to facilitate its reverse-merger transaction to go public. These shares were not valued at $1 million,
just the exemptions for Rule 504 allowed for the issuance of up to $1 million in securities. We have publicly
stated that Great White added a little over one million shares when it executed the reverse-merger transaction.
Rule 504 was the mechanism
enabling the issuance of those shares.
Later in March Great White issued $500,000 in convertible debentures - not Common Stock - to GEM. These
were issued under the exemptions of regulation D, Rule 505. Again, Rule 505 was simply a mechanism allowing
the issuance of this debt. Great White has not issued $5 million worth of securities, especially Common Stock,
under Rule 505. Remember, the general exemption in the laws governing Rule 505 and on Form D allow for up
to $5 million in securities to be issued.
As for your idea about a Nevada company owning the majority of shares of Great White that simply is not true
either. The information on a Form D requires information about the "issuer". In case you were not aware, Great
White itself is a registered Nevada corporation. As such, all of Great White's SEC filings - both now and in the
future - will make mention of a Nevada corporation.
As for the number of shares repurchased in the buyback, I heard this morning that Great White has purchased
510,000 shares of its stock on the open market. The Board of Directorsis diliberating on whether to expand the
buyback further.
Management is not going to make any changes to projections at the
present time. Polaris is expected to have a positive impact on
revenues and net earnings, especially long-term. If Great White does alter its projections the soonest that is
likely to occur is after the conclusion of the second quarter."
Hope this answers a few questions!!!
Randomm
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