Saturday, July 25, 2009
Thursday, July 9, 2009
On July 9, 2009, Camelot Entertainment Group, Inc. ("Camelot") issued a press release announcing that in connection with the effective date of July 10, 2009 for the 700:1 reverse of the company’s common stock, Camelot has received a new trading symbol “CMGR” from OTC Corporate Actions FINRA Operations. A copy of Camelot’s press release is attached below.
In addition, Camelot has established a new series of preferred stock known as “Class D Convertible Preferred Stock”. All stockholders of record as of July 9, 2009 shall be eligible to receive as a cashless dividend the Class D Convertible Preferred Stock. Stockholders shall be eligible to receive 40 shares of the Class D Convertible Preferred Stock for each one million shares of common stock owned as of the close of trading on July 9, 2009. Holders of Class D Convertible Preferred Stock shall have the right, once the Common Stock achieves a 30 day average closing bid price of $2.50 per share as determined by the Over The Counter Bulletin Board (“OTCBB”) historical daily stock price quote, to convert any or all of their Class D Convertible Preferred Stock into 1 share of fully paid and nonassessable shares of Common Stock for each share of Class D Convertible Preferred Stock held. In addition, holders of Class D Convertible Preferred Stock will have the right to convert, as described in the designation, upon an initial or secondary public offering of the Common Stock by the Corporation where the offering price is $2.50 or greater. Camelot shall begin the process of registering these shares for distribution to its common stockholders subsequent to the effective date of the reverse.
Press Release:
Camelot Receives New Trading Symbol CMGR
Camelot Implements 700 to 1 Reverse; Creates New Series of Preferred Stock for Common Stockholders
IRVINE, CA, July 9, 2009 — Camelot Entertainment Group, Inc. (OTC BB: CMLT) (“Camelot”) announced today that effective July 10, 2009, Camelot has a new trading symbol “CMGR”. The Company has implemented a 700:1 reverse of the company’s common stock.
In addition, Camelot has established a new series of Class D Convertible Preferred Stock. All stockholders of record as of July 9, 2009 shall be eligible to receive the preferred stock as a cashless dividend. Stockholders are expected to receive 40 shares of the preferred stock for each one million shares of common stock owned as of the close of trading on July 9, 2009. Further information can be found in the Company’s 8K filing.
In addition, Camelot has established a new series of preferred stock known as “Class D Convertible Preferred Stock”. All stockholders of record as of July 9, 2009 shall be eligible to receive as a cashless dividend the Class D Convertible Preferred Stock. Stockholders shall be eligible to receive 40 shares of the Class D Convertible Preferred Stock for each one million shares of common stock owned as of the close of trading on July 9, 2009. Holders of Class D Convertible Preferred Stock shall have the right, once the Common Stock achieves a 30 day average closing bid price of $2.50 per share as determined by the Over The Counter Bulletin Board (“OTCBB”) historical daily stock price quote, to convert any or all of their Class D Convertible Preferred Stock into 1 share of fully paid and nonassessable shares of Common Stock for each share of Class D Convertible Preferred Stock held. In addition, holders of Class D Convertible Preferred Stock will have the right to convert, as described in the designation, upon an initial or secondary public offering of the Common Stock by the Corporation where the offering price is $2.50 or greater. Camelot shall begin the process of registering these shares for distribution to its common stockholders subsequent to the effective date of the reverse.
Press Release:
Camelot Receives New Trading Symbol CMGR
Camelot Implements 700 to 1 Reverse; Creates New Series of Preferred Stock for Common Stockholders
IRVINE, CA, July 9, 2009 — Camelot Entertainment Group, Inc. (OTC BB: CMLT) (“Camelot”) announced today that effective July 10, 2009, Camelot has a new trading symbol “CMGR”. The Company has implemented a 700:1 reverse of the company’s common stock.
In addition, Camelot has established a new series of Class D Convertible Preferred Stock. All stockholders of record as of July 9, 2009 shall be eligible to receive the preferred stock as a cashless dividend. Stockholders are expected to receive 40 shares of the preferred stock for each one million shares of common stock owned as of the close of trading on July 9, 2009. Further information can be found in the Company’s 8K filing.
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