What the Company said and when they said it:
This is from the 2Q, page 22 HERE and was filed the 9th of August:
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"NOTE 15 SUBSEQUENT EVENTS
On July 22, 2011, the Company announced its intention to complete a 1 for 1,000 reverse stock split. All stock prices, share amounts, per share information, stock options and stock warrants in this report do not reflect the impact of the reverse stock split, as the reverse split is not expected to become effective until the latter half of the third quarter of 2011. Every thousand shares of issued and outstanding Company common stock will be automatically combined into one issued and outstanding share of common stock, without any change in the par value per share. The reverse split will reduce the number of outstanding shares of common stock from about 14 billion to about 14 million."
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The next day GreenShift put out the DEF 14C HERE. This is the only reference to the timing that I found:
"On or after September 6, 2011, the amendment of the articles of incorporation will be filed with the Delaware Secretary of State and will become effective."
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SkunK's Comment:
The September 6th reference is a +month past and the "latter half of the third quarter of 2011" is nearly two weeks past. I suspect with all the filings and rulings there is a lot happening all at once. Heck, we may even have some negotiations going on after the Markman ruling. A potential settlement and other things may have an immediate effect on the share structure and the stated purpose of/need for the reverse split. Negotiations mean "quiet" and it sure has been shhh quiet.
At this juncture my guess - and that's all it is - would have the R/S happening this week or next. If we get too far out beyond that - then GreenShift may have to refile the 14C, and I would think they would try to avoid that. If something bigger is in the works then all bets are off and we will see the results in filings and maybe even a PR of one sort or another.
Thursday, October 13, 2011
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3 comments:
Looks a revised filing will be required:
Form DEFA14C is for filing "definitive additional information statement materials, including rule 14(a) 12 material." SEC Form DEFA14C can cover supplemental information from other filings, or correct deficiencies in information in other filings.
Section 14C of the code deals with notification to shareholders of "definitive information statements," and it does not solicit proxies. It is a means for management to disclose or deliver important information required under other parts of the code. This filing is to be distinguished from form DEFA14A: information disclosed in connection with the solicitation of a proxy.
A revision to form DEFA14C. This form is a definitive information statement that discloses important information but is not connected to the solicitation of proxy votes. The information contained in a DEFA14C (or DEFR14C) form can cover a multitude of items that are deemed important for shareholders.
Section 14C of the code deals with "definitive information statements" not related to a proxy solicitation. The "DEF" prefix refers to definitive information, and the "R" refers to "revision." Any revision to information contained in a DEFA14C would require a DEFR14C amendment.
R/S not today:
http://www.otcmarkets.com/marketActivity/symbol-changes
Go away, nobody likes you.
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