Jeff, Apparently reading comprehension is confusing to you.
What happened prior to 2/1/05 is irrelevant as teh FOIA Data indicates ZERO fTD's prior to April 18, 2005.
"Effective February 1, 2005, the Registrant implemented a one for 350 reverse split of its authorized, issued and outstanding shares of common stock. The number of authorized and outstanding shares of the Registrant's common stock has been reduced in accordance with the one for 350 split ratio to 5,428,571 and 1,158,064, respectively, following the February 1, 2005 reverse split." [4]
Once again, if we do some reverse math, this indicates there were 5,428,571 * 350 = 1,899,999,850 shares of common just prior to the R/S. Note that it says "and outstanding", not just "authorized." Nevertheless, we'll assume just the latter. The 10K says there are 500M authorized, but, again for sake of argument, we'll just assume there were still 1.9B authorized even after the previous r/s. Even still, we now have 5.4M shares outstanding as of 2/1/05.
Now make careful note of the underlined. 5.4 Million AUTHORIZED and 1.158 ISSUED. Now I suggest you learn the difference between AUTHORIZED and ISSUED as the market only trades on ISSUED. Your Math is then all buggered up. You keep using a 5.4 Number that is out of the trade equation.
On a basis of 1.158 Million Issued on February 1, 2005 or, 4.0 Million on March 31, 2005 the fact that there were 10 Million fails on April 18 indicates a Failure:Issue ratio of 2.5:1. There was 2.5 times as many fails as there were shares issued and....Simpson still can't get shares.
Your problem, you are myopic. I have explained very clearly that the issue was not naked shorting IMO it was a gaffe by Wall Street that was covered up. I think Wall Street was fortunate that Global Links Issued an additional 3M shares into the public float. Remember, there were 50 Million share trade days prior to coming off "when issued" on a stock that had somewhere between 1.1 and 4.0 Million shares issued. Anyway you look at it the multiples are staggering.
So Jeff, I would hope that before you come back and critique what i have stated that YOU read up on the reality of the story. What happened in 2004 has NOTHING to do with the data snapshots we now have. Plain and simple.
BTW...This line "The Company issued 162,720,000 shares of S-8 common stock in 2005 compared to 224,500,000 shares of common stock in 2004." would be mostly Pre-Feb. 1, 2005 as the End of year filing still indicates a sharestructure of only 4.8 Million shares. So if 162 Million were issued in 2005 and the stock moved from 1.1 to 4.6 after February 1, 2005 that would imply that outside of 3.8 Million shares all else was pre-February 1 reverse split.
As of December 31, 2005 using your Link #7
Preferred Stock par value $0.001 (100,000,000 shares authorized, 15,000,000 issued and outstanding)
Common Stock par value $0.0001 (500,000,000 shares authorized, 4,678,362 issued and outstanding) |
