Penny stocks are coming to the attention of many investors. This comes as no surprise considering the many benefits of investing in what others also call micro-cap stocks and nano stocks. For one thing, you can invest a relatively small amount of money to own a lot of stocks that can provide for a huge profit later on. For another thing, you can hone your trading and investing skills with penny stocks before deciding to trade on the big boards.
Monday, November 21, 2011
CMGO filed their 10-Q today. Here is a snippett about the Audio Eye spinoff shares from the quartely report.
ITEM 4 – SUBMISSION OF MATTERS TO A VOTE OF SECURITY HOLDERS
October 24, 2011, AudioEye, Inc. filed a registration statement to register the issuance of shares of its common stock, which will be distributed on a pro rata basis to the Company’s shareholders. In connection with a Master Agreement dated as of June 22, 2011 between the Company and AudioEye Acquisition Corporation, the parties agreed, among other things that the shareholders of AudioEye Acquisition Corporation will exchange all of their shares of the capital stock of AudioEye Acquisition Corporation for 80% of the capital stock of AudioEye, Inc. and the Company will distribute to its shareholders in the form of a dividend 5% of the outstanding capital stock of AudioEye, Inc. Concurrently with the filing of the registration statement, the Company has filed a proxy statement relating to a special meeting of the Company shareholders to consider and vote on the spinoff, the share exchange and related matters.
