{"id":6219,"date":"2015-07-10T14:12:43","date_gmt":"2015-07-10T14:12:43","guid":{"rendered":"\/?p=6219"},"modified":"2015-07-10T14:39:33","modified_gmt":"2015-07-10T14:39:33","slug":"american-green-inc-otcmktserbb-ups-authorized-shares-to-7-75-billion","status":"publish","type":"post","link":"\/articles\/american-green-inc-otcmktserbb-ups-authorized-shares-to-7-75-billion\/","title":{"rendered":"American Green Inc. (OTCMKTS:ERBB) Ups Authorized Shares to 7.75 Billion"},"content":{"rendered":"\n

It seems American Green Inc (OTCMKTS:ERBB<\/a>) COO and general media frontman, Stephen Shearin, is true to his word – there will be no reverse split of ERBB<\/a>‘s common stock. Instead, on Tuesday the company increased its authorized shares by another 3 billion, bringing the AS figure to 7.75 billion shares.<\/p>\n

The company was kind enough to inform of the increase through a Twitter post. According to that, the 3 billion increase is needed for “anticipated audit reserves for TrackX, future acquisitions and up-listing requirements”. It would be most interesting to see ERBB<\/a> list the OTC BB tier rule that requires a company to have over 5 billion outstanding shares to uplist out of the pink sheets.<\/p>\n

While future acquisitions is a perfectly valid reason, it would also be more comforting to see ERBB<\/a> capitalize on its past acquisitions and manage to actually prove those can generate any revenues before freeing up space for new ones, resulting in more torrential dilution.<\/p>\n

Then again, as of March 31, 2015 ERBB<\/a> had millions of dollars worth of debt. All of this debt converts at a 50% discount from the lowest closing bid price 12 months prior to conversion. The main reason people were anxious about a reverse split in the first place was because the company very obviously needed more breathing space to satisfy this outstanding debt. True enough, there will be no RS, instead ERBB<\/a> gave itself another 3 million shares worth of breathing space.<\/p>\n

Currently outstanding debt can convert 50% below ERBB<\/a>‘s 52-week lowest close of $0.0039.<\/p>\n

Yesterday the company’s stock crashed nearly 11% and wiped almost all gains made over the previous session.<\/p>\n","protected":false},"excerpt":{"rendered":"

It seems American Green Inc (OTCMKTS:ERBB) COO and general media frontman, Stephen Shearin, is true to his word – there will be no reverse split of ERBB‘s common stock. Instead, on Tuesday the company...<\/p>\n","protected":false},"author":4,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[173],"class_list":["post-6219","post","type-post","status-publish","format-standard","hentry","category-news","tag-erbb"],"_links":{"self":[{"href":"https:\/\/articles.thehotpennystocks.com\/articles\/wp-json\/wp\/v2\/posts\/6219","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/articles.thehotpennystocks.com\/articles\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/articles.thehotpennystocks.com\/articles\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/articles.thehotpennystocks.com\/articles\/wp-json\/wp\/v2\/users\/4"}],"replies":[{"embeddable":true,"href":"https:\/\/articles.thehotpennystocks.com\/articles\/wp-json\/wp\/v2\/comments?post=6219"}],"version-history":[{"count":0,"href":"https:\/\/articles.thehotpennystocks.com\/articles\/wp-json\/wp\/v2\/posts\/6219\/revisions"}],"wp:attachment":[{"href":"https:\/\/articles.thehotpennystocks.com\/articles\/wp-json\/wp\/v2\/media?parent=6219"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/articles.thehotpennystocks.com\/articles\/wp-json\/wp\/v2\/categories?post=6219"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/articles.thehotpennystocks.com\/articles\/wp-json\/wp\/v2\/tags?post=6219"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}