Maritime Resources Corp V.MAE

Excess shares

[JollyRoger7]

Do we know if any excess allocation shares have been issued yet or, if so, were the applications subject to scaling back?

[nozzpack]

Any unused rights subsequent to Sept 6 were cancelled . Dundee then bought at 3,4 cents that number needed to meet the $8 million financing..

[JollyRoger7]

Reading from 6th August launch notice it says that there is an Additional Subscription Privilege where existing holders who take up their full rights "will also be entitled to subscribe for additional Common shares on a pro rata basis "  I am reading this right, aren't I?

[colt45acp]

All and all can not get my finger on the share price going nowhere. Our good friend and in house researcher who perhaps everybody agrees with my thought or not has laid out.( and nicely). Plain language it stinks. With all our assets pop should go the wealse, no? Yeah , yeah i know we need a reverse split. Stinks, jmo. 

[nozzpack]

Yes you are. Did u fully exercise your rights ! Did you then subscribe for additional rights before the rights issue expired on Sept 6?

[shiftyone]

I love your question jollyroger. It sounds like you have a point. I subscribed for all my rights. No where did I read that I would have to apply for further rights on a pro rated formula. I agree with you What a headache for paperwork on that. I encourage you to follow up. I would certainly buy more at .034 Dont let this go. If it ever becomes a .20 stock, we didnt get what we were entitled to.

[JollyRoger7]

Shifty,  Just to update the saga, - I did comply with the rules and applied for a very modest additional amount. My Broker accepted the instruction but, to date, he has not been allocated any additional shares from MAE. I approached MAE some days ago but, so far, no respopnse.  It could possibly be that MAE  are still calculating the scaling back and are yet to advise our Brokers