Quote:
Originally Posted by VinceYoung
I asked this in another forum and no one was able to answer it.
Where are these 200 million shares coming from? Does anyone care?
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I care Vince
When ASM first started selling the private placement under ASMA1 the float of the company stood at 25 Million... and of that float 1 million or 4% was ear marked for the private placement. I beleive they sold batches of 50,000 - 100,000 to a total of 250,000 prior to the lock up and then trading after superbowl.
Then the split sequence occured and the company float adjusted accordingly
1st - 50 million sharess outstanding after 2:1
2nd - 100 million shares outstanding after 2:1
3rd - 200 million shares outstanding after 2:1
4th - 500 million shares outstanding after 5/2 split
So.. today, we have been told that the non-brokered private placement of this company now represents 200 million common shares of ASM Inc. or 40% of the entire company float.
This is not uncommon when companies are aiming to go public. IPO restirctions mandate how many shares insiders can retain to have majority control over the company.
Of the 60% that remains, I figure that 9% has or will be given away as incentives to athletes and celebrities to jump on board. This would leave the management team with 51% control of the company and have rough 50 Million shares to play with to attract people to the US business.
AGain this is all just speculation on my part.