posted
What a bunch a freakin h*rsesh*t...They aint paying $900 per 1Million common in 5-years...they'll be long gone living & hiding in the rain forests of Zimbabwee before you try getting your money.
IP: Logged |
posted
de·ben·ture Audio pronunciation of "debenture" ( P ) Pronunciation Key (d-bnchr) n.
1. A certificate or voucher acknowledging a debt. 2. An unsecured bond issued by a civil or governmental corporation or agency and backed only by the credit standing of the issuer. 3. A customhouse certificate providing for the payment of a drawback.
A promisary note....
Good for payment in 5 years...unless they go BK at some time.
-------------------- Making it a little at a time....Now is the time to determine if you are a man or a mouse.
IP: Logged |
quote:Originally posted by BlindMellonChitlin: de·ben·ture Audio pronunciation of "debenture" ( P ) Pronunciation Key (d-bnchr) n.
1. A certificate or voucher acknowledging a debt. 2. An unsecured bond issued by a civil or governmental corporation or agency and backed only by the credit standing of the issuer. 3. A customhouse certificate providing for the payment of a drawback.
A promisary note....
Good for payment in 5 years...unless they go BK at some time.
What a bunch a freakin h*rsesh*t...They aint paying $900 per 1Million common in 5-years...they'll be long gone living & hiding in the rain forests of Zimbabwee before you try getting your money.
BTW, how about my 6 billion preferred shares? Are they tied to this complicated h*rsesh*t?
YOU CAN REALLY TELL THAT THIS CO. IS SCREWED AND THEY'RE PULLING EVERYTHING THEY CAN OUT OF THEIR ASSES TO ENTICE CURRENT AND FUTURE SHAREHOLDERS IN ORDER TO GET MORE MONEY SO THEY CAN LIVE THIER LAVISH LIFESTYLES, AND NOT BE MINING CHIT.
IP: Logged |
posted
Looks like a reverse split and an IOU to me. But I could be wrong. The whole 1,000,000 share to 100,000 share example looks like a 10 to 1 R/S.
IP: Logged |
posted
dkinvest is a very smart invester, but he must admit that is a good thing that the vol. was super high today, all at the ask of .0001. Someone is really loading up so we may get an exit point tomorrow.
IP: Logged |
quote:Originally posted by Mu Meson: dkinvest is a very smart invester, but he must admit that is a good thing that the vol. was super high today, all at the ask of .0001. Someone is really loading up so we may get an exit point tomorrow.
there is still no bid on this until that changes volume means nothing!
IP: Logged |
"Pearl Asian Mining Industries Will Buy Back 90% of its Issued and Outstanding Common Shares"
My question is... why buy back 90%??
My question is... why so optimistic on thier future??
My question is... did they find something significant in one of thier mining claims in the Philippines to warrant a PR stating such a massive buyback??
My question is... has there ever been another company ever PR a Buyback of 90% O/S??
My question is... ANOTHER BRE-X...LOL??
IP: Logged |
posted
If this is a 90% buyback, then they will be replacing 90% of the shares with another symbol?
If they "buy back" 90%, then its not just a reverse split where they replace 90% of your shares with fewer shares of another, new symbol. All reverse splits as far as I know are 100%.
I think that this is impossible to carry out, unless they intend to reverse just the "float" shares? But i know that is illegal in the US. They said they held 25B shares, about 5B in "float". Which get "bought back"? Do the rest remain as PAIM?
posted
they will reduce the O/S, no cost to them for five years! will investors make out? who knows! they had to do SOMETHING to reduce the O/S.they said no R/S. this is pretty close if you ask me!. if MM`s start posting bids on this again flip it for whatever you can. i know i do not want to be holding it when it splits ( debetures are issued ) because it wont " technicaly " be a split the price will be the same after as before.
IP: Logged |
posted
On second thought I think there is a chance of a halt. If this 90% buy back is illegal the shorts may complain to the SEC and ask for a halt like in KSWJ.
Beware the SEC halt.
There is no way to "buy back" 90% of the shares with some new symbol. It wont happen.
IP: Logged |
quote:Originally posted by madmoney: they will reduce the O/S, no cost to them for five years! will investors make out? who knows! they had to do SOMETHING to reduce the O/S.they said no R/S. this is pretty close if you ask me!. if MM`s start posting bids on this again flip it for whatever you can. i know i do not want to be holding it when it splits ( debetures are issued ) because it wont " technicaly " be a split the price will be the same after as before.
90% of the shares cannot be split leaving 10% PAIM behind. No way. PR is wrong. This cannot happen.
Obviously the people behind the latest PR are idiots. They have no idea what they are talking about. If they try to file SEC papers for this stupid buy back scam the SEC will halt the stock. Maybe we need to call Richard and help him. We could help him create a plan that benefits both PAIM and us.
IP: Logged |
posted
This is actually a good move to clean up the structure of the stock if they don't dilute. The problem is, if you own it now, you are gonna be shafted.
IP: Logged |
posted
Read the PR again. A buy back and a reverse are not the same. The SEC and NASDAQ will halt this one if they try, but that will not be death. We need to convince Pearl and Richard to wise up.
Pearl Asian Mining Industries Will Buy Back 90% of its Issued and Outstanding Common Shares
MANILA, Philippines, May 04, 2006 (BUSINESS WIRE) -- Pearl Asian Mining Industries, Inc. (OTC: PAIM) will buy back approximately 27,000,000,000 or 90% of its issued and outstanding common shares using a convertible debenture.
PAIM will pay par value of $0.001 per share when issuing its convertible debentures. The debentures will be payable without interest in 5 years and be convertible back to common at the rate of $0.01 per share at any time before maturity.
As an example, a shareholder owning 1,000,000 common shares will keep 100,000 common shares and receive a debenture with a face value of $900 due and payable in 5 years without interest. Any time during the 5 years, the holder will be entitled to convert the debenture to 90,000 common shares.
Only shareholders of record on June 1st will be entitled to convert 9 out of every 10 common shares on the exchange date of the 15th of June, 2006 for a debenture.
IP: Logged |
Topic Closed
UBBFriend: Email this page to someone!
Printer-friendly view of this topic
![[Confused]](confused.gif)
My question is... why buy back 90%??![[Razz]](tongue.gif)
My question is... did they find something significant in one of thier mining claims in the Philippines to warrant a PR stating such a massive buyback??![[Roll Eyes]](rolleyes.gif)
My question is... has there ever been another company ever PR a Buyback of 90% O/S??![[Eek!]](eek.gif)
My question is... ANOTHER BRE-X...LOL??
![[Smile]](smile.gif)
![[Wink]](wink.gif)
Maybe we are on our way there starting tomorrow!!!!
