You didnt receive a legitimate answer from me, simply because I didnt think you wanted and answer from a prick with some type of mental confusion so I am going to post information to you one time. Its your choice whether you believe it or not.
In June 1998 a group of shareholders filed suit because of the 300 to 1 reverse split and a second Reg S that was attempted.
In July 1998 the shareholders put a new Board of directors in place. The guys that attempted the second Reg S, moved on and got a new shell. As for the reverse split, it could not be legally stopped in time, so there was not anything we could have done that would have prevented the 300 to 1 reverse split, but myself and 61 other shareholders did try to stop that from happening.
The people you are upset with are long gone and running another OTC company.
Now yes there is 50 mil shares authorized... by law the only way the charter/authorized shares can be changed is through a proxy vote. There is currently only 530,000 total shares outstanding. The reason for this STUPID forward split, is to increase liquidity for the investors.
The reason for the warrants, was to help the investors average down... (if they chose to) because of the past administration. This is also the same with the Preferred shares, these were given at the same time as the warrants in order to try and help the investors cut their losses.
I am not going to go into the dynamics of stock underwriting and things of this nature, but that and developing and grooming independent companies are what we are now doing. It is in our best interest and the IPO companies best interest if we "share" shareholders by way of 3rd party stock dividends, the ArchivalCD shares and some other private companies that are being negotiated at this very moment.
I understand why you are PO'ed, most all of us were in the same state of mind about this time last year, if the other guys would have not been stopped... we would now be trading at .13 or so, that is what their company is now currently trading at.
KAA
CVIA CEO |
