As a former PlanetOut Inc. stockholder, you or your client should have received a statement from Wells Fargo Shareowner Services, the transfer agent and registrar, stating that for each PlanetOut Inc. share in your possession, you receive one share of Here Media Common Stock and one shares of Here Media Special Stock. If the shares were held in “street-name” or the name of a brokerage firm in which stock is held on behalf of a customer, then DTC (The Depository Trust Company or CEDE & Co.) would have auto-exchanged the positions. The par value per share is $0.001.
Here Media’s stock is not currently listed on any stock exchange, and we do not have any current plans to seek such listing. However, it is possible that we will do so in the future. Quotations of bid and asked prices for our common stock may appear on the OTC Bulletin Board if one or more brokerage firms determine that there may be sufficient interest among investors to warrant providing such quotations, but we have no information concerning whether or when such quotations may be provided. We are not currently aware of any source for information on trading prices or trading volumes for our stock.
The holders of Here Media common stock have a common stock interest in Here Media that is the same type of asset as any other common stock holding. The fact that no market prices or trading volumes are reported does not necessarily mean that Here Media common stock is without value. It just means there is no trading market for the stock. Each stockholder and any prospective purchaser of the common stock must make their own determination of the value of the stock based on Here Media’s reported financial results and other valuation factors that investors in stock customarily consider (other than market prices and trading volumes).