looks like there are no more than 10,000,000 shares authorized.... as of the last financial report -10Q - July 20, 1998... outstanding were 6,533,995.
Who knows what happened since then but the company would have to have all their financials up to date to authorize any more shares. It looks like anywhere from 6,533,995 and 10,000,000 is the guess. All of the outstanding shares could be the float considering all the ups and downs this company has gone through in the last couple of years.
So the 8 million statement could be true. Something must have happened between July 98 and now. But there can not be more than the 10,000,000 authorized without financials. It would seem logical the SEC would not approve more shares without the necessary paperwork submitted.
Could the deal with Thinkbid.com be what is left of the authorized?
IRTG needs to get their finanicals in order so we can see the entire picture. They stated in their previous press release that they were working on it. They have to be done within the next 30 days in order for the Thinkbid.com deal to go through.
We should see some current figures in the next few weeks. According to the press release, the Thinkbid.com deal is suppose to close within 30 days.
I wish IRTG management good luck. I hope they continue the forward movement. Finally this company seems on track.
It does look like we might just score a winner considering the price of the other auction stocks. I am holding onto my stock ... that is for sure. Even EBUY and BIDN are flying high ... and they are bulletin board stocks too.
edgar-online.com
NOTE G - STOCKHOLDER'S EQUITY Common Stock
The Company has authorized 10,000,000 shares of common stock with a par value of $.0001 per share. At March 31, 1998, 6,533,995 shares were issued and outstanding, after giving effect to the March 1998 transaction for 1,100,000 shares (See StockSubscriptions Receivable, below). The Company has no other authorized or outstanding securities of any class. |
