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Security National Financial Corp. Message Board

  • e7navy1999 e7navy1999 Aug 21, 2013 2:08 PM Flag

    New Shares Issue coming

    At this rate of 13000 shares traded today the 1.5 million shares will take 1/2+ of a year to dispose of! Good Job management

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    • I don't mean to sound too rough but you have no clue what you are talking about.

      The 1.5M share number you keep referring to is the B class shares (1/10 economic value) and thus the real number is 150k shares.

      The true "burn" rate for this stock is about 3-4% a year

      On June 30, 2013, there were 11,018,021 shares of Class A common stock and 12,669,983 shares of Class C common stock issued and outstanding . Thus, if the stockholders approve the 2013 Plan, including the reservation of the shares for issuance thereunder, the holders of Class A common stock could realize up to a 3.9% dilution with respect to their shares. Assuming all the Class C common stockholders, whose shares may be converted to Class A common shares at a conversion rate of ten-for-one, convert their Class C common shares to Class A common shares, the Class A and Class C common stockholders could realize up to a 3.5% dilution with respect to their shares on a fully converted basis.

      • 2 Replies to bambyboy2005
      • The Annual Meeting was then adjourned until August 23, 2013, at which time the proposal in the Company's Proxy Statement relating to the approval of the adoption of the 2013 Stock Option Plan will be considered. Included in the 2013 Stock Option Plan is the reservation of 450,000 shares of Class A common stock, of which up to 1,500,000 shares of Class C common stock may be issued in place of up to 150,000 shares of Class A common stock. The adjourned meeting will be held on August 23, 2013, at 10:00 a.m., Mountain Daylight Time, at the Company's corporate offices located at 5300 South 360 West, Suite 250, Salt Lake City, Utah

      • Thanks much, Bam!
        We are definitely indebted to your intellectual generosity.

    • And take the share price back down to a dollar.

 
SNFCA
4.37+0.10(+2.34%)Jul 31 3:27 PMEDT

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