SI
SI
discoversearch

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor.  We ask that you disable ad blocking while on Silicon Investor in the best interests of our community.  If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.
Gold/Mining/Energy : Westrend Natural Gas - I.D.E. Hot Stock -- Ignore unavailable to you. Want to Upgrade?


To: Chuck Rubin who wrote (1748)12/11/1998 3:07:00 PM
From: just starting  Respond to of 2011
 
just quoting proxy circular...don't really know myself how many shares there are. Looks like good dilution to me as well.



To: Chuck Rubin who wrote (1748)12/11/1998 5:29:00 PM
From: Leigh McBain  Read Replies (2) | Respond to of 2011
 
Chuck et al. - NO it does not mean a 5:1 consolidation, if you multiply 6,666,667 by 15 you find that it equals 100,000,000 (considering rounding) and this pertains to the authorized number of common shares the company has at it's disposal for total issuance. They are proposing, as All companies executing a consolidation do, that they will then request to be authorized for 100,000,000 shares again after the restructure. This part of the circular has NO bearing on intent for dilution whatsoever. This is a standard clause in ALL consolidations.

Again please do not take my explaining the issue as any form of support for the 15:1 idea.

"Just Starting" - thanks for clarifying the statement pertaining to "up to 15:1", this does make a significant difference. Without the "up to" part of that, if passed, it would allow only a 15:1, in this format a 2:1, 3:1 or 5:1 would all be doable without a special shareholders meeting.

Salut,
Leigh McBain