Yea, it's amazing what a little 100,000 to 1 reverse split will do to those share counts.
Here's my favorite part of the annual report....
On December 10, the Company executed a reverse stock split of 100,000 to 1 thereby reducing the
number of outstanding common shares. To protect our shareholders the Company declared a one-time
special dividend bases on 2008 year end results in the amount of $0.0002 per common share or 2 (two)
times the price quoted on December 10, 2008 to shareholders of record as of the date. The series B
Preferred Shares were issued on January 30, 2009 to all shareholders of recorded on December 10, 2008
and those shares pay a dividend in cash or company common stock. The dividend is 2.5% annually which
is priced at 2% over 1 year U.S. Treasures and was expected to be on January 30, 2010. However, the
new management will make a decision on a payment date.
Good thing they issued those preferred shares to "protect" those caught in the reverse SCAM. Of course they are not tradeable and pay no dividend. What a joke.
