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Gold/Mining/Energy : FASC (First American Scientific Corp) -- Ignore unavailable to you. Want to Upgrade?

To: jmt who wrote (453)	8/25/1998 12:15:00 PM
From: Jim K.	Read Replies (1) \| Respond to of 972

jmt, Well ok, help me out here. The relative paragraphs of the solicitation are: "The Company's Board of Director has passed a resolution calling for an amendment to the Company's Articles of Incorporation. The Company's Board of Directors is soliciting consents in writing to authorize the proposed amendment which would increase the authorized Common Stock of the Company from 50,000,000 shares, par value $0.001 per share, to 100,000,000 shares of Common Stock, $0.001 par value per share. The Company's Board of Directors has established the close of business on June 4, 1998, as the record date (the "Record Date") for determining the shareholders of record. On June 4, 1998, the Company had 49,326,018 shares outstanding and entitled to vote. Officers and Directors of the Company are expected to execute consents in favor of the foregoing action. Officers and Directors own 0.69% of the outstanding shares the Company's Common Stock." ____________________________________________________________________ Company had 49,326,018 shares outstanding therefore it would require 24,663,009 +1 voting shares to carry or better. They had 69% of the outstanding in their pocket, so no need to mail out notices to every one. So: 0.69% = 0.0069 x 49,326,018 = 340,349 (this is less than half of outstanding shares, so I have to assume that there use of 0.69% is in error and they meant 69% = 0.69 x 49,326,018 = 34,034,952 = majority of outstanding shares My guess would be that it was a typo. What do you think ? Jim K.