posted
The O/S is listed at about 80 million. But reading the following, I am more confused. DIAAF looks poised to fly,,,,380K MC, they already have an eco friendly and safe wrap product to market.. --------------------------------
On December 19, 2005, Diamant Art Corporation f/k/a ART International Corporation (the "Company") sold 5,000,000 restricted shares of its Class C Common Stock. As consideration for the sale of these shares, the Company received a total of $ 500,000.00 consisting of $100,000.00 in cash and $ 400,000.00 in forgiveness of existing indebtedness due and owing by the Company. </p> <p>The Company's sale of the subject restricted shares is exempt from registration in reliance upon the provisions of Regulation S under the Securities Act of 1933, as amended. Each purchaser of the shares of the Company's Class C Common Stock has represented, among other things, that he is not a "U.S. Person" and that the offer and sale of the subject shares was effected through an "Offshore Transaction," all as such terms are defined under Regulation S. </p> <p>The 5,000,000 shares of the Company's Restricted Class C Common Stock which have been sold have a conversion right whereby, at the election of the holder thereof, each share of the Company's Class C Common Stock can be converted into 100 restricted shares of the Company's Common Stock. <
IP: Logged |
posted
Twice you said you are confused by the last filing. Well, I took the time to go back and read all the filings the company made after changing their name, on 11/19/04. They cancelled Preferred A & B which there weren't any O/S or issued, so it was no more than a name change. Although they cancelled Clas A & B preferred it appears they been pretty active with the Class C Preferred : 1/12/05 issued 231K Class C Preferred (Restricted) 2/25/05 issued 4.4M Class C Preferred (Restricted) 12/22/05 issued 5M Class C Preferred (Restricted) Class C Preferred stock has a conversion ratio of 1 Class C = 100 shares of common stock. So if/when the above Class C becomes nonrestricted and converted it has dilution potential of 963.1M shares, Problem is they don't tell you how long the shares are ristricted or if any have been converted and sold. So, with the 80M last reported O/S in Novemeber 2004 plus the 963M O/S could be as much as a billion+. You might want to call them or their transfer agent see if the will give you detail on those Class C and the current O/S.
-------------------- A million seconds is 13 days. A billion seconds is 31 years.
IP: Logged |
-------------------- Do you know what "nemesis" means? A righteous infliction of retribution manifested by an appropriate agent. Personified in this case by an 'orrible 'unt... me. -Brick Top
IP: Logged |
UBBFriend: Email this page to someone!
Printer-friendly view of this topic
