Verisante Technology Inc. V.VRS

Shares for Debt

[gaserx2]

I'm not sure if the TSX and Securities commission shoild accept this filing in its present form  Something may not add up just yet.
These shares were issued on a post split basis. The transfer agents have not yet posted the new consolidated shares to shareholders accounts. Based on the fact that the pre split price was .01 cents, at 1 for 10 the post split price should come out at .10 cents.
If the post split price comes out at .01 cents existing shareholders are getting creamed. For example if you own 50000 shares at .01 your value is $500.. But when they split, any stock exchange/transfer agent should price accordingly by legal means. IMHO. That said 1 for10 makes the share count to be 5000 at .10 keeping your value at $500. If it gets priced at .01 it is only worth $50. That,s a huge haircut.
Now for the insider who gets the 9.8 mill shares at .01 cents he could have a huge windfall. For example:
The insider receives his 9.8 mill at .01 the value is $98000, perfect. It settles his debt for shares. Now if the transfer agent posts the split price at .10 cents which in my opinion would be the correct post spllt price. Then because this insider received post split shares of 9.8 mill, at a split price of .10 cents his shares are now worth $980000.00. That would be a huge windfall profit for the stakeholder as the original debt was only $98000. Not sure how this will all play out at this point, but, the only way existing shareholders hold todays value is a price of .10 cents after the split proceeds.
Also from my point of view this transaction at this point has bascally doubled the size of the floating shares outstanding which is a huge dilution.
All this is IMHO. of course and time will tell.