Investor Help (NO Ihub questions)

[cintrix]

Yes, believe it or not, it is legal and it happens way too often in penny stocks. They don't need any sec permission to enact a reverse split. Most reporting companies will put out a filing alerting their shareholders of an imminent rs - the penny otc companies usually mention it in a Pre14 filing - some in 8k's. But pink sheet companies can just release a pr the day before - some of them don't even do that and you find out about it when the Daily List comes out and they appear on it. And they don't have to lower the authorized if they reverse too. We post reverse splits here each day when the Daily List comes out and if you look in the Ibox repeat offenders are listed:
http://investorshub.advfn.com/Reverse-Splits-3017/