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Stock Clubs | Penny Flippers | FACT-N-FICTION

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Posted by: ICEMAN1CO Member Level  Date: Monday, April 02, 2007 10:49:08 PM
In reply to: None Post # of 12948  Send a link via email Share on Facebook Tweet this post
Can someone check the math on this?

**This is not my strength area and I was alerted that the numbers are not accurate here...if anyone has expertise in this area that wants to chime in that would be helpful. here is part of a comment in reference to the below..

"Another mistake made is that .012 is 12 percent of a dime and not a penny. This is really scary if you apply the same math to the float. Instead of 8 million, it could be 80 million. oh well, it's only one zero."

From the UMINING WEBSTITE.....

"2) I was told that this is a Pump and Dump stock, is this true?

"Buster" When a Pink Sheet Company commences its operations it is common and regulated practice that shares are initially sold to allow new shareholders to participate and secondly to fund start-up costs. Pump and Dump stocks usually have hundreds of millions of shares outstanding. Our Company only has 8,000,000 shares that are not under our control. In the beginning of January our stock was trading at $0.012 (i.e. 12% of a penny) and thus it is logical to surmise that the founders of the Company sold stock at a very low price per share to allow new shareholders to come on board and take advantage of the investment opportunity. Think about it!
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