Owner
Post by Franko10 ™ on Oct 31, 2006 15:02:45 GMT -5
Silver Screens Studios: Adopts Shareholders Integrity Plan to Address its Capital Structure and NOBO Evaluation and Makes Plans to Migrate to NASDAQ Small Cap Market
Friday October 20, 12:05 pm ET
Shareholders Integrity Plan to Address NOBO Evaluation and Protect the Interests of Our Shareholders
ATLANTA--(BUSINESS WIRE)--Silver Screen Studios, Inc. (OTCBB: SSSU - News), finance.yahoo.com/q?d=v1&s=sssu.ob implements Shareholders Integrity Plan to address share imbalance and makes provisions to migrate to NASDAQ Small Cap Market.
Shareholders Integrity Plan Objective:
Our management in an effort to protect the integrity of our shareholders investment has adopted a Shareholders Integrity Plan ("SIP") and makes provisions to move to NASDAQ Small Cap Market once Reg. E Funds are capitalized.
Shareholders Integrity Plan: Phase I
The SIP is the equivalent to the Shareholders Rights Plans as designed by the law firm of Wachtell, Lipton, Rosen & Katz, i.e., the Poison Pill. The Poison Pill has been upheld by the Delaware Courts as a legal method to protect the shareholders interests in the company by the board of directors acting in their business judgment. We feel the SIP will protect our legal shareholders investment in our company as we restructure into a profitable entity.
Implementation:
The management of SSSU has accessed a shareholders list as of 10-11-2006. This list was compared to the NOBO list as of 10-11-2006. The shares in excess of the official total as compiled by the transfer agent will be deemed "counterfeit shares".
Counterfeit Shares:
Any position deemed counterfeit will be deemed to be short a failure to deliver share; each failure to deliver share outstanding of SSSU shall be deemed liable as follows:
Counterfeit Shares Liability:
Each counterfeit share shall be liable to SSSU as follows:
(i) $1.00 per share in cash; plus
(ii) The 52 week high of $.041 multiplied by 7.77 multiplied by the number of days the failure to deliver position has been open.
(iii) There are currently 102,767,486 shares unaccounted for.
Restructuring of Capital Structure:
Our management feels there is a significant failure to deliver position in our stock and the NOBO list identified the extent of the position. To protect our shareholders we are developing the share exchange program with one of the Reg. E Funds that will place an estimated value of $.10 to $.25 on the shares of SSSU.
Shareholder Benefits and Dividend Distribution:
We have developed the dividend program with one of the Reg. E. Funds. Each Reg. E fund can raise up to $5.0 million per year exempt from registration. We are working out the details of a dividend valued in the range of $0.05-$0.12 per share.
TD Ameritrade:
We will have an update on Monday concerning the TD Ameritrade and SBSH situation and the steps the company is taking to address the problem. According to the NOBO list SSSU has 770 account holders at TD Ameritrade who have been prevented buying shares in the company.
Summary:
The SIP will have no effect on our current shareholders. The SIP will affect the imbalance in shares that have failed to be delivered and remain open. We are exploring retaining a forensic accountant and the DTC Position Report to identify each position and the owner of the position and take actions to reward our legitimate shareholders with the proceeds we recover.
About Global 1 Investment Corporation:
The family of funds we construct will have equity, fixed income, real estate securities, mortgages, affordable housing and commercial assets as investment opportunities for different classes of investors.
Disclaimer: The below disclaimer is incorporated by reference as if fully set forth herein this as well as all media releases on SSS behalf. The statements contained in this released are forward looking and may or may not occur due to forces beyond the company's control.
Contact:
Silver Screen Studios, Inc.
Barry Thomas, 404-255-0400
sssu@mindspring.com
Friday October 20, 12:05 pm ET
Shareholders Integrity Plan to Address NOBO Evaluation and Protect the Interests of Our Shareholders
ATLANTA--(BUSINESS WIRE)--Silver Screen Studios, Inc. (OTCBB: SSSU - News), finance.yahoo.com/q?d=v1&s=sssu.ob implements Shareholders Integrity Plan to address share imbalance and makes provisions to migrate to NASDAQ Small Cap Market.
Shareholders Integrity Plan Objective:
Our management in an effort to protect the integrity of our shareholders investment has adopted a Shareholders Integrity Plan ("SIP") and makes provisions to move to NASDAQ Small Cap Market once Reg. E Funds are capitalized.
Shareholders Integrity Plan: Phase I
The SIP is the equivalent to the Shareholders Rights Plans as designed by the law firm of Wachtell, Lipton, Rosen & Katz, i.e., the Poison Pill. The Poison Pill has been upheld by the Delaware Courts as a legal method to protect the shareholders interests in the company by the board of directors acting in their business judgment. We feel the SIP will protect our legal shareholders investment in our company as we restructure into a profitable entity.
Implementation:
The management of SSSU has accessed a shareholders list as of 10-11-2006. This list was compared to the NOBO list as of 10-11-2006. The shares in excess of the official total as compiled by the transfer agent will be deemed "counterfeit shares".
Counterfeit Shares:
Any position deemed counterfeit will be deemed to be short a failure to deliver share; each failure to deliver share outstanding of SSSU shall be deemed liable as follows:
Counterfeit Shares Liability:
Each counterfeit share shall be liable to SSSU as follows:
(i) $1.00 per share in cash; plus
(ii) The 52 week high of $.041 multiplied by 7.77 multiplied by the number of days the failure to deliver position has been open.
(iii) There are currently 102,767,486 shares unaccounted for.
Restructuring of Capital Structure:
Our management feels there is a significant failure to deliver position in our stock and the NOBO list identified the extent of the position. To protect our shareholders we are developing the share exchange program with one of the Reg. E Funds that will place an estimated value of $.10 to $.25 on the shares of SSSU.
Shareholder Benefits and Dividend Distribution:
We have developed the dividend program with one of the Reg. E. Funds. Each Reg. E fund can raise up to $5.0 million per year exempt from registration. We are working out the details of a dividend valued in the range of $0.05-$0.12 per share.
TD Ameritrade:
We will have an update on Monday concerning the TD Ameritrade and SBSH situation and the steps the company is taking to address the problem. According to the NOBO list SSSU has 770 account holders at TD Ameritrade who have been prevented buying shares in the company.
Summary:
The SIP will have no effect on our current shareholders. The SIP will affect the imbalance in shares that have failed to be delivered and remain open. We are exploring retaining a forensic accountant and the DTC Position Report to identify each position and the owner of the position and take actions to reward our legitimate shareholders with the proceeds we recover.
About Global 1 Investment Corporation:
The family of funds we construct will have equity, fixed income, real estate securities, mortgages, affordable housing and commercial assets as investment opportunities for different classes of investors.
Disclaimer: The below disclaimer is incorporated by reference as if fully set forth herein this as well as all media releases on SSS behalf. The statements contained in this released are forward looking and may or may not occur due to forces beyond the company's control.
Contact:
Silver Screen Studios, Inc.
Barry Thomas, 404-255-0400
sssu@mindspring.com
