The following is a list of Frequently Asked Questions that were addressed by Stephen L. Gurba, Chairman of the Board and Chief Executive Officer at our July 9, 2012 Shareholder Meeting. This information is being provided for those who were not able to attend.
Is John Stanton still involved in any capacity with the management of the Company?
John Stanton resigned as Chairman of the Board, Chief Financial Officer, and as a Board Member, in July of 2011. Since that time, John's only relationship to the Company has been that of a shareholder.
What is the number of common shares currently issued and outstanding?
As will be disclosed in the Company's 10Q for the quarter ended June 30, 2012, the Company currently has Two Billion (2,000,000,000) shares authorized for issuance. Of the currently authorized shares, there are 1,035,809,699 shares issued and outstanding.
What was the reason for the office relocation to Tampa, Florida, and is the Tampa office owned by an insider of the Company?
Our Clearwater, Florida office lease expired at the end of April of 2012. Effective July 1, 2012, the corporate offices were relocated to our Tampa, Florida office to centralize operations and as a cost savings measure, reducing corporate overhead by approximately $7,000 per month. The office in Tampa is leased from an independent third party.
Is there any explanation for the volume of trading activity in the Company's common stock?
Of the one billion plus shares of the Company's common shares that are currently issued and outstanding, there are in excess of 300,000,000 shares in the public float. These shares are unrestricted and eligible for free trading status. The shares of common stock controlled by insiders bear a restrictive legend and are not eligible to be freely traded pursuant to SEC regulations. As investors are free to buy and sell their common shares, it would be purely speculative to venture a guess as to the investor optimism or pessimism as it pertains to our stock. The Company has no influence over the public trading, and the insiders are not participating in any of the trading activity.
Is the Company planning a reverse split of its common share's?
The Company does not have any current plans to authorize a reverse split of its common shares.