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Bryn Resources, Inc. Message Board

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  • royaltycruises royaltycruises Dec 14, 2009 8:58 AM Flag

    10 Billion O/S shares!!!!

    Phase I saw the company reduce its outstanding share structure by 400 million shares. This represents approximately 5% of the RMDM outstanding and current float.
    Phase II is a complex transaction involving the stakeholders of over 5% in RMDM agreeing to a lock up agreement which will essentially reduce the current float by another 400 to 800 million shares.
    Phase III will be when amongst other things, the issuer will approach individual (as permitted by law) shareholders on its NOBO list and offer conversion privileges from common stock to preferred stock. The preferred stock will pay annual cash dividends and will have conversion privileges back to common stock at some point in the future.
    Phase IV will be a reorganization of the capital structure.
    The company projects that these four phases being worked on simultaneously may reduce RMDM's outstanding share structure to about 1 to 2 billion outstanding shares, from the current 9.8 billion.

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