Anyone that trades this market knows that dilution is a part of the game. Reverse splits also lurk around the corner, but most decent company's keep a lid on dilution and don't reverse split on a regular basis. Then there is SSPTD, in this case greed is bad as the company seems to have very little respect for its investors.
The 100-1 reverse stock split last month by the company was modest, but then to right away issue billions of shares is unacceptable. That shows no regard for the retail investor.
To give the recent events of the company more clarity, today's press release stating an outstanding share count of 2,838,107,005 really amounts to over 238 BILLION SHARES split adjusted. Now that is just plain wrong.
With today's press release the company is claiming they are not selling stock and the float is only 272 million shares. With 2 hours to go in the session SSPTD has traded 116 million shares and will likely trade at least half the "supposed" float. Who do you think is telling the truth here? The market or a company that just reverse split the stock?
Shot Spirits Corporation Issues Shareholder Update GlobeNewswire "Press Releases"
LEESBURG, Va. , Dec. 16, 2010 (GLOBE NEWSWIRE) -- Shot Spirits Corporation (Pink Sheets:SSPTD) is providing this update to address shareholder inquiries. The current number of outstanding shares is 2,838,107,005 of which 2,566,291,355 are restricted.Further to questions regarding selling of preferred shares, the Company nor its management team have sold any preferred shares and have no plans of selling preferred shares in the future.
As previously announced, the pay date for the dividend of GRBG shares will be January 31, 2011 .
Our apologies regarding the IR contact listed in our prior press release.Howard Isaacs is no longer the IR contact for Shot Spirits Corporation .
Safe Harbor: This release may contain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Statements contained in this release that are not historical facts may be deemed to be forward-looking statements. Investors are cautioned that forward-looking statements are inherently uncertain. Actual performance and results may differ materially from that projected or suggested herein due to certain risks and uncertainties including, without limitation, ability to obtain financing and regulatory and shareholder approvals for anticipated actions.
CONTACT: Shot Spirits Corporation Investor Relations 703-297-3400 www.shotspiritscorporation.com
Source: Shot Spirits Corp.
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