posted
From IHUB: Posted by: sublime In reply to: Art2Gecko who wrote msg# 23864 Date:8/20/2006 4:38:40 PM Post #of 23878
IPRE RS vote..i am sad to report that i have disturbing news regarding IPRE. most of you know me well and you know that i would never put information out there if i were not as sure as possible of it's validity.
for verification the information can probably be obtained through your broker. you can ask for a copy of the proxy.
the information has come to me from an IHub member who wishes to remain anonymous and each of us should use it or dismiss it as we see fit. i trust the person who gave me the info fwiw. i have flipped in and out of IPRE and am not in it at this time however i would post this just the same if i were in it right now.
IPRE, via its transfer agent, Atlas Stock Transfer, has issued notice of a Special Meeting of Shareholders to be held either TOMORROW, August 21 * 9:30 AM (according to the Proxy Card) or Tuesday, August 22 *8:30 AM (according to the accompanying materials).
The materials are dated August 10, it was postmarked August 15, and the shareholder (not me) received it yesterday.
The purpose of the meeting is to:
1. Authorize a merger with Imperia Entertainment, a Nevada corporation (Articles of Incorporation for this entity were filed on July 18. The Notice describes Nevada as more "user friendly.")
2. (Here is where the going gets weird.) Authorize an amendment....to effect a 1-500 reverse split of the common share capital of the corporation, which, upon filing of the amendment, will reduce every ten shares of common stock to one share of common stock.
(And here is where it gets weirder.) The accompanying letter to shareholders from Kenneth Eade refers to both a 1-1000 reverse split and a 1-500 reverse split on the same page.
(And weirder still) The "Notice of Special Meeting of Shareholders twice refers to a 1-1000 reverse split (which also "will reduce every ten share of common stock to one share." But it also refers to a 1-500 reverse split in three different places.
The Notice also states the Kenneth Eade, holder of one million preferred shares each convertible at 100,000 for one common share has already issued his proxy in favor of the proposals. ____________________________________________________________
just received this EMAIL from james in reply to my seeking verification:
Vera,
Yes, let me explain things more clearly. As you know I handle the deal side of things and Ken handles the financial arrangements. Last night I met with Pride fighting and it's fighters including heavyweight champ Fedor. And I have some great pictures for you to put up if you would like me to send them to you. I think it would be very positive for the board to see what I am working on. Over 500 people showed up last night to get a glimpse of the Pride fighters. They are having their first event in the US this October. They have had events in Japan with over 70,000 people showing up. That is as big as the Super bowl in America.
Ken has a great deal of trouble dealing with the state of California, for example the time it took for the RS to go through and why we had to put it off. This is why he is switching the corporation to Nevada.
When a reverse split is eventually implemented, a lot of investors will be upset. I would imagine on this news that people will be very angry and I will get a lot of hate mail like I did when we first mentioned the reverse split. The PPS may even drop. So I can understand why investors would be upset about it.
There are two reasons for doing the RS. One is so that we can get on a better board. We have been getting caught up with our accounting in preparation for this. The second and more important reason is that private investors are putting up millions of dollars to fund both Whiskers and Never Submit through convertible restricted shares. That money will be used to fund these projects which will bring IPRE a LOT OF PRESS and a great deal of money IMO. If we don't do the RS then there's no Whiskers and no Never Submit. If we can't do our movies there is no point in us existing. We are not a ponzi scam or a shell. We are a real company making real movies that need real money to function. Whiskers will be funded through MUME but NS will be done as an Imperia project exclusively. If the turn out to Pride last night is any indication, the movie will be very popular.
In short, I realize it is a hard pill to swallow, and I apologize to those investors who upset by this, but it is absolutely essential for the future and vitality of this company. I believe the deals we are working on now will be the seeds that will bear the fruit of our future.
The RS is 1-500… I cannot speak about Ken Eade's shares as I did not draft this letter.
Please let me know if I can go ahead and send the pictures from last night.
posted
Thank God I didn't fall for the BS about them cancelling the R/S. TOO MUCH dishonesty all around with this company and now this ones gonna fall HARD after this news gets verified and starts spreading.
posted
Isn't this still all rumor, until we SEE the news ourselves? One person, new on this forum, entering a message from another person, on a different forum, COULD be true, but until we actually see news on the PR wire, it's still just rumor, isn't it?
-------------------- "As long as there are dreamers, there are dreams that will come true."
IP: Logged |
i am a shareholder and received no such letter, and i contacted their PR company today, and they stated they knew absolutely nothing regarding this "RUMOUR"
*good try whoever is trying to accumulate, hope you don't get nailed for stock price manipulation*
posted
I hate crap like that...it drives down a stock for absolutely no reason, except for the jerk who starts the rumor and for his own unfathomable reasons. If everyone held strong, this wouldn't have dipped.
-------------------- "As long as there are dreamers, there are dreams that will come true."
IP: Logged |
posted
I don't know which way to swing. Granted, penny stocks are a risk regardless, but did the say the monetary value of the split?? If there is one....
-------------------- Plan your work for today and every day, then work your plan
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posted
I find it very curious ETRADE was not allowing online trading in this since the R/S was cancelled, then when this rumor came out they began allowing online trading again! whats wrong with this picture?
IP: Logged |
When I came across this rumor I emailed James on Sunday night. Here is my e-mail
Hi James, My name is ******** and I have been a devoted shareholder for a number of months now. I would just like to touch base and verify a posting on a website regarding the following information. This was posted as an email from you.
Yes, let me explain things more clearly. As you know I handle the deal side of things and Ken handles the financial arrangements. Last night I met with Pride fighting and it's fighters including heavyweight champ Fedor. And I have some great pictures for you to put up if you would like me to send them to you. I think it would be very positive for the board to see what I am working on. Over 500 people showed up last night to get a glimpse of the Pride fighters. They are having their first event in the US this October. They have had events in Japan with over 70,000 people showing up. That is as big as the Super bowl in America.
Ken has a great deal of trouble dealing with the state of California, for example the time it took for the RS to go through and why we had to put it off. This is why he is switching the corporation to Nevada.
When a reverse split is eventually implemented, a lot of investors will be upset. I would imagine on this news that people will be very angry and I will get a lot of hate mail like I did when we first mentioned the reverse split. The PPS may even drop. So I can understand why investors would be upset about it.
There are two reasons for doing the RS. One is so that we can get on a better board. We have been getting caught up with our accounting in preparation for this. The second and more important reason is that private investors are putting up millions of dollars to fund both Whiskers and Never Submit through convertible restricted shares. That money will be used to fund these projects which will bring IPRE a LOT OF PRESS and a great deal of money IMO. If we don't do the RS then there's no Whiskers and no Never Submit. If we can't do our movies there is no point in us existing. We are not a ponzi scam or a shell. We are a real company making real movies that need real money to function. Whiskers will be funded through MUME but NS will be done as an Imperia project exclusively. If the turn out to Pride last night is any indication, the movie will be very popular.
In short, I realize it is a hard pill to swallow, and I apologize to those investors who upset by this, but it is absolutely essential for the future and vitality of this company. I believe the deals we are working on now will be the seeds that will bear the fruit of our future.
The RS is 1-500… I cannot speak about Ken Eade's shares as I did not draft this letter.
Please let me know if I can go ahead and send the pictures from last night.
All the best,
James jameshergott**********
Is this an inevitable fact or are there people out there messing with us? You response will be truly appreciated.
Thank you,
I got this reply Sunday evening at 6:05 (25 mins. after I sent the e-mail)
yes
On 8/20/06, B*** E**** <**********cox.net> wrote: >
That was it. I used the e-mail address from the IPRE page on IHUB. I wasn't expecting any response from him for at least a day or so. Let alone on a SUnday night!! I still have not decided whether it's bogus, so I'm still holding.
IP: Logged |
posted
This is not a rumor and it was indeed confirmed by James. There will be a press release with all the formal mumbo jumbo BS to follow shortly.
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