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Cereplast, Inc. Message Board

  • mobiletechsolutions Feb 8, 2013 9:00 PM Flag

    Crucial text from today's filing: From another board.

    Crucial text from today's filing:

    first and foremost, it states in plain english in the filings that:

    "The presence at the meeting, in person or by proxy, of the holders of a majority of the number of shares of common stock issued and outstanding on the record date will constitute a quorum permitting the meeting to conduct its business. We anticipate that as of the record date, there will be 238,131,674 shares of our common stock issued and outstanding. Thus, the presence of the holders of 119,065,837 issued and outstanding shares of common stock will be required to establish a quorum."

    just below that, it shows how many shares the board of directors holds: 3,084,386 shares.

    what does this mean, you ask?

    it means that for there to even BE A MEETING (or a "quorum") for these things to be voted on, the owners of 115,981,451 shares needs to be present.

    the rate at which the financiers are dumping shares indicates to me that there won't be nearly enough holders of 115mm shares to show up to the meeting to establish a quorum, thus, the meeting ITSELF will be a nonevent (and, in turn, the voting on the A/S increase, and the R/S, will both subsequently be nonevents).

    Sentiment: Strong Buy

    SortNewest  |  Oldest  |  Most Replied Expand all replies

      Sentiment: Strong Buy

      • 1 Reply to elblancorabbitto
      • guys should learn more about how the market / stock process works, before you lose your tuition money.
        Look at the SEC filing pre 14A.
        There will be a vote for the reverse split (anywhere from 1 for 2 up to 1 for 50.
        There will be a vote to increase their stock up to 2 Billion shares.

        All of the above will happen.
        They will do the rev. split, and hopefully get listed again, then flood the market with a bunch of new shares. They will also use the shares for getting funds and making deals.
        Your shares will be diluted once again. This means your 1 buck share will be worth allot less.

        Read the filing, ask questions for what you do not understand, then make a decision. Playing stocks can make you bucks, but they can also break you.

        The meeting and voting is done in person and by internet / mail / phone.
        Usually, the company gets what they want by votes.
        The price might bomb before and after the RS and dilution.

        Seeing the posts some of you are making on this board (which is strictly entertainment only), many need to learn what is actually going on.


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