Post by stevpot99 on Feb 15, 2005 19:45:10 GMT -5
What this latest PR from NHGP says is thats the 3000 PRRM shareholders who have the 1/100 dividend coming now own 51% or better of the assets of NHGP and that could be as high as 100%.
Heres the share count just before the dividend was announced!
CORAL GABLES, Fla., Sep 15, 2004 (BUSINESS WIRE) -- Prime Rate Investors, Inc. (Pink Sheets:PRRM) announces the number of shares outstanding as of September 13, 2004.
Free trading shares not restricted 5,218,991,476; Restricted shares owned by management and shares issued in forward split: 9,400,226,802; Authorized shares 20,000,000,000.
There were 15.6 billion shares of PRRM at the time of the reverse merge and announcment of 1/100 dividend and NHGP has not traded since. Till today!
That leaves 156 million shares issued and outstanding divided by 3000 shareholders minus, whatever the CEO and the rest of the insiders own.
If insiders don't control 51% of the shares, no new shares can be issued without a majority proxy vote. Leaving insiders needing shares or buying the majority from the new PRRM to gain control. Market cap was
$2 million at the time of the div. Does NHGP buy what is held by PRRM now? Is this new revenue for our little PRRM now? Hmmm!
The maximum number of shares that could have been in the float at the time of sale was 6.2 billion plus the 9.4 restricted shares. That would leave the new PRRM the company holding the 94 million and 62 million in the public float. I know I own 1.5 million of those and I also know others who hold conciderable amounts of that 62 million.
Now for the interesting part! If the shares dividend comes out as restricted and the insiders (Whoever they are at tis point) hold restricted shares also. How will it trade at all?
I have a feeling there may be some happy dividend holders when the shares show up in there accounts!
They may very well be unrestricted! Seeing as NHGP now has all of what was the old PRRM and its assets. Including Tampa Bay Mortgage and any loans and the income from them, and the shares have been reduced to 156 million issued and outstanding form 15.6 billion.
This could be very interesting!
Good Luck!
Your friendly micropennys.com commontator!
Rick
Heres the share count just before the dividend was announced!
CORAL GABLES, Fla., Sep 15, 2004 (BUSINESS WIRE) -- Prime Rate Investors, Inc. (Pink Sheets:PRRM) announces the number of shares outstanding as of September 13, 2004.
Free trading shares not restricted 5,218,991,476; Restricted shares owned by management and shares issued in forward split: 9,400,226,802; Authorized shares 20,000,000,000.
There were 15.6 billion shares of PRRM at the time of the reverse merge and announcment of 1/100 dividend and NHGP has not traded since. Till today!
That leaves 156 million shares issued and outstanding divided by 3000 shareholders minus, whatever the CEO and the rest of the insiders own.
If insiders don't control 51% of the shares, no new shares can be issued without a majority proxy vote. Leaving insiders needing shares or buying the majority from the new PRRM to gain control. Market cap was
$2 million at the time of the div. Does NHGP buy what is held by PRRM now? Is this new revenue for our little PRRM now? Hmmm!
The maximum number of shares that could have been in the float at the time of sale was 6.2 billion plus the 9.4 restricted shares. That would leave the new PRRM the company holding the 94 million and 62 million in the public float. I know I own 1.5 million of those and I also know others who hold conciderable amounts of that 62 million.
Now for the interesting part! If the shares dividend comes out as restricted and the insiders (Whoever they are at tis point) hold restricted shares also. How will it trade at all?
I have a feeling there may be some happy dividend holders when the shares show up in there accounts!
They may very well be unrestricted! Seeing as NHGP now has all of what was the old PRRM and its assets. Including Tampa Bay Mortgage and any loans and the income from them, and the shares have been reduced to 156 million issued and outstanding form 15.6 billion.
This could be very interesting!
Good Luck!
Your friendly micropennys.com commontator!
Rick