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any idea when SVXP shrs convert to SVXA in brokerage accounts
Where is the frikin selloff! Foiled again! LOL
Just lurking here - wanted to congratulate you all on a GREAT recovery! Very impressive, I hope it holds.
GLTY
Check out KROH, formerly ACSJ, formerly .....
Same group of fun loving, "maximum shareholder value" jokers.
Did a RS last May 27, 2005.
http://www.knobias.com/individual/public/news.htm?eid=3.1.a1919b59b3231389a525343dc620c48866323a3c6b...
Made for a lucrative play if you were buying shortly after.
Check the chart starting in May 2005.
Locked up in a ridiculous spread ever since.
I don't think one could ever sell at pre-split value to date.
Note KROH's current AS, 2,400,000,000. Saving it for a rainy day.
There is money to be made, IMO, but probably a little easier somewhere else.
Good luck to you.
going to be fun to watch. ;^) I got a front row seat and my popcorn.
real
"Curtis Sprouse, COO, further states "The reverse stock split paves the way for our Company to ultimately apply for listing on the American Stock Exchange (AMEX), and which will allow management to pursue more favorable funding mechanisms."
"We believe the new share price after the reverse split will improve the Company's position in the financial markets, and enhance its ability to attract individual and institutional investors to fund the expansion of the Company's multiple recovery operations."
http://biz.yahoo.com/bw/060116/20060116005371.html?.v=1
Sovereign Exploration Associates International, Inc. Announces Reverse Stock Split to Improve Value by Positioning for Long Term Growth and Investor Value
Monday January 16, 9:50 am ET
NEWTOWN, Pa.--(BUSINESS WIRE)--Jan. 16, 2006--Sovereign Exploration Associates International, Inc. (OTCBB: SVXP - News) announces a one-for-one, one thousand reverse (1:1000) stock split effective 9:00AM Eastern time, January 17, 2006.
Effective January 17, 2006, Sovereign Exploration Associates International, Inc.'s trading symbol will be changed to OTCBB: SVXA.
"This reverse stock split represents the next milestone in SVXP's overall plan to achieve maximum shareholder value," stated Robert Baca, CEO of SVXP. "On October 17, 2005, the Company completed a stock exchange agreement with CALI Holdings to position Sovereign Exploration Associates International, Inc. as a publicly traded company. The agreement requires that management execute a reverse split as part of the term of that agreement as stated in the 8-K dated October 17, 2005. We believe the new share price after the reverse split will improve the Company's position in the financial markets, and enhance its ability to attract individual and institutional investors to fund the expansion of the Company's multiple recovery operations."
Management has analyzed similar companies in the market, and feels the reverse split will allow for a more accurate market value of SVXP. Monies invested in SVXP will be primarily spent on recovering lost cargo, not searching for it. When compared to the market capitalization of comparable companies searching for potential wreck sites, management recognizes that SVXP has tremendous unrealized upside value, having already located 12 valuable ship wreck sites.
Curtis Sprouse, COO, further states "The reverse stock split paves the way for our Company to ultimately apply for listing on the American Stock Exchange (AMEX), and which will allow management to pursue more favorable funding mechanisms."
Each 1000 shares of SVXP common stock outstanding and held by each stockholder of the Company immediately prior to the effective time shall be reclassified and combined into one share of common stock automatically and without action by the holder. No fractional shares of common stock shall be issued as a result of such reclassification. In lieu of any fractional shares to which the stockholder would otherwise be entitled, the Company shall round up to the next highest share number. Following the reverse spit, the number of shares of Common Stock issued and outstanding will decrease to approximately 26,200,000.
About Sovereign Exploration Associates International, Inc.
Sovereign Exploration Associates International, Inc. (OTCBB:SVXP - News) is a Business Development Company under the Investment Company Act of 1940 undertaking shipwreck exploration and recovery initiatives. Pursuant to Section 13 or 15(d) of the Security Exchange Act of 1934, SVXP has filed Form 8-K.
http://biz.yahoo.com/bw/060116/20060116005371.html?.v=1
I agree mastaflash. This is not your typical RS. I don't think Sovereign cares one bit about about having daytraders holding the stock. This is an attempt to get the stock into the hands of more serious investors. I think we will see penny flippers move out and be replaced by long term holders.
Maybe with intentions of getting listed on the Naz, or AMEX.
insiders are buying to survive the RS imho.... otherwise they are going to have no leverage in a 1:1000 RS... 1000000 shares ='s 1000 shares after the RS. can't wait to see how this one goes.
real
I agree. This week may represent an excellent buying opportunity.
Actually, the market cap remains unchanged ( on paper ). What does change the market cap is selloff that occurs as fears of R/S dilution cycle common to pennies rears it ugly head. Don't be surprised if that doesn't happen here. Holders who have done their DD may think twice before panic selling ( some may try to flip this week though, which may help drive pps down sharply and then recover as they buy back in ).
This company is sitting on potentially hundreds of millions of dollars. When a big recovery happens, it will be national news, and everyone will want a piece of it.
Thats why insiders are buying, and thats why I'll be looking for cheap shares this week!
Just MHO,
masta
Stock...I don't think it was a reverse merger, was it? I think what they did is have the old management "resign" while the new was brought in, right? TIA
As a general rule, an R/S decreases the overall market cap of a bulletin board stock. Not to say that that will happen with SVXP/A, but don't be surprised if it does.
You know what they say about assumptions. In this case, you're the ass.
I only trade in this range and have rarely blamed NSS in the subpenny range, except for cellar boxing, which you probably don't know about LOL.. Most of my research involves higher end microcaps and I think there is a lot of NSS scamming going on there.
I did buy at .0003 and sold at .0009. It was a tiny trade for me and I was interested in getting back in, but didn't have the background info. I'll consider it now after the r/s.
Thanks for the response though.
Press Release Source: Sovereign Exploration Associates International Inc.
Sovereign Exploration Associates International, Inc. Announces Reverse Stock Split to Improve Value by Positioning for Long Term Growth and Investor Value
Monday January 16, 9:50 am ET
NEWTOWN, Pa.--(BUSINESS WIRE)--Jan. 16, 2006--Sovereign Exploration Associates International, Inc. (OTCBB: SVXP - News) announces a one-for-one, one thousand reverse (1:1000) stock split effective 9:00AM Eastern time, January 17, 2006. Effective January 17, 2006, Sovereign Exploration Associates International, Inc.'s trading symbol will be changed to OTCBB: SVXA.
ADVERTISEMENT
"This reverse stock split represents the next milestone in SVXP's overall plan to achieve maximum shareholder value," stated Robert Baca, CEO of SVXP. "On October 17, 2005, the Company completed a stock exchange agreement with CALI Holdings to position Sovereign Exploration Associates International, Inc. as a publicly traded company. The agreement requires that management execute a reverse split as part of the term of that agreement as stated in the 8-K dated October 17, 2005. We believe the new share price after the reverse split will improve the Company's position in the financial markets, and enhance its ability to attract individual and institutional investors to fund the expansion of the Company's multiple recovery operations."
Management has analyzed similar companies in the market, and feels the reverse split will allow for a more accurate market value of SVXP. Monies invested in SVXP will be primarily spent on recovering lost cargo, not searching for it. When compared to the market capitalization of comparable companies searching for potential wreck sites, management recognizes that SVXP has tremendous unrealized upside value, having already located 12 valuable ship wreck sites.
Curtis Sprouse, COO, further states "The reverse stock split paves the way for our Company to ultimately apply for listing on the American Stock Exchange (AMEX), and which will allow management to pursue more favorable funding mechanisms."
Each 1000 shares of SVXP common stock outstanding and held by each stockholder of the Company immediately prior to the effective time shall be reclassified and combined into one share of common stock automatically and without action by the holder. No fractional shares of common stock shall be issued as a result of such reclassification. In lieu of any fractional shares to which the stockholder would otherwise be entitled, the Company shall round up to the next highest share number. Following the reverse spit, the number of shares of Common Stock issued and outstanding will decrease to approximately 26,200,000.
Has anybody here taken the time to call the company? Are you aware that management that was previously in control of all previous splits are gone? Don't take my word for it. Take a look at the officers then and now. Are you aware that they bought the CALI shell in order to take a private company(s) public? I think that those who dump this stock assuming it is the "typical" RS will regret it in the coming months. JMHO
rrufff, link to the TSBB/ TSBI/ CALI/ SVXP/ SVXA Reverse Split;
http://otcbb.com/asp/dailylist_detail.asp?d=01/13/2006&mkt_ctg=OTCBB
Stock history:
SVXA Sovereign Exploration Associates International, Inc. New 1000:1 Reverse Split
SVXP Sovereign Exploration Associates International, Inc.
CALI CALI Holdings Inc 10/27/2005 100:1 Reverse Split
TSBI TS&B Holdings Inc 04/08/2005 40:1 Reverse Split
TSBB TS&B Holdings Inc 08/16/2004
3 Reverse Splits in 8 months (4,000,000 to 1 ratio).
I'm guessing you'll blame it on some naked short guy when the stock drops down again? LOL!
Hope this helps. Good luck.
this is going to be so exciting... excellent excellent excellent. I cannot wait to see how this one plays out..
treasure is so exciting.
real
if you say so I got to see this.
real
By: tagzenstone
13 Jan 2006, 07:25 PM EST
Msg. 714257 of 714312
re:SVXP - I feel sorry for those who panicked and sold today regarding the pending 1/1000 reverse stock split scheduled for Tuesday, January 17th - here's why >>>
Does anyone recall GMCI ?? Did also just did a 1/1000 reverse stock split effective January 11, 2006 with the new ticker being GMOC. When GMCI closed on January 10th, it was .0002. When it opened for trading as GMOC on January 11th, price automatically converted to .20 (.0002 x 1000) ... today it closed at .90 !!! That's a 350% INCREASE IN JUST 3 DAYS - from January 11th thru today !!
I see the same scenario happening with SVXP --> SVXA next week. SVXP closed at .001, so when trading commences on Tuesday, January 17th, the new symbol will be SVXA and the price conversion will open up at $1.00 (.001 x 1000).
Don't be surprised if SVXA trades over $5.00 within a week's time because that is when Institutional Funds/Investors are able to purchase shares per their small cap guidelines. Think about it ... why do you think all of the Insider Buying took place over the last 30+ days????
No company insider buys shares in anticipation of losing all their money!!
GLTA
Remember, Monday is a holiday so markets are closed.
http://ragingbull.lycos.com/mboard/boards.cgi?board=CLB00412&read=714257
the terms of the R/S are 1/1000 so if you do the math with Fridays closing price at .001 ..... (.001 x 1000 = $1.00)
frankie_fillet, SVXA will open at $1.00 on Tuesday because the terms of the R/S are 1/1000 so if you do the math with Fridays closing price at .001 ..... (.001 x 1000 = $1.00)
Post 418 by dwiz5 has that answer.
Do you have a link for r/s?
tia
insiders would buy to survive. With the name change there is going to be a lot of bag handlers with no leverage. Lets see if it makes .20 cents.
real
at a dollar? that has to be seen. That is amazing. I went thru a few RS's of a thousand to one and never saw the pps go up that far. lol a dollar?
This I got to see with my own eyes..
real
Keep in mind - if they come into port with a boat load of Plllars, R/S will not get in the way of a PPS rise IMO. Lets hope there is good news soon....would insiders buy before an R/S if nothing big was coming? I don't think so...
All IMO,
masta
SVXP becomes SVXA on Tuesday and should open at $1.00 if indeed the R/S happens before the market opens.
O.K. I'm sorry I have ticked off some people around here that was not my intention. I don't have much experience being a mod and I did not want this place to look like RB. I think we are for the most part on the same page. Anyway I am going to stick around and see what happends after the split.
GLTA
Sorry Gateway I changed my mind.
to survive a RS? I am trying to sort thru and find mention of it.
real
Hey is there really a RS scheduled for tuesday?
real
one line like in boiler plate?
real
From latest filings. I'm unsure if this amount has changed since the date mentioned. After the split there will be 2,437,896 outstanding and 250,000,000 authorized. I also expect SVXP to have News regarding another Director this week.
250,000,000,000 shares
authorized 2,437,896,950 issued and outstanding
as of October 17, 2005
No DD, what the hell are you talking about? It is hard to go back and read all the old filings, I usually skim through but didn't notice the company stating a R/S was planned by 3/31/06. If I would have known this info then I would have posted it for everyone to know. I'm not a pumper but I did really like this stock, I was hoping new management might clean it up and with all the recent articles that had come out it sounded like they were onto something.
Dot DOC post a link, for crying outload this is not RB you have to back things up on a credible discussion board, what do you expect would happen. I never saw this replied post because it was deleted.
And anyone if you ever find something like that please post it on any board or with any stock, I would have appreciated. Posting it after the fact does not really help.
Even JROD started posting charts on the damn thing, I was starting to feel really good about it.
actually I will have to back DOC on this even though I have him on ignore...it was clearly stated in their filing that an RS has to happen before 3/31/06
chas2004... Sorry, I couldn't read your message, Post #425, because it has been deleted? Why did you send me something that was deleted by you? GLTA
I am going to watch on the sidelines for a while.
I use to think like that too, company sounds good, got a good team, good product,but this one has a history of name changes and RS's. I'd be real carefull here.
SVXP said there going to hire 50 people with the exploration end of it, guess what? where there gonna get the funds...Hmmmmmmm more Dilution is my guess, history repeats itself again and again...lol, by the way thanks!
Peace
DOC_O
Fine Thanks for trying to help the people who did not do any DD. By the way I did and I still think this is a good long term investment. I'm sorry I removed your post I should have asked you why you thought a RS is coming instead.
Thats total bull and you know it, funny, do you always delete post without a link attached? hahahaha...riggggghhhhht!
Shortbutlong hardly did any DD on this, nor did he want to hear or ask me the truth, hes all HYPE,HYPE,..RAH...RAH........
I thought out of the goodness of my heart, I'd give fair warning to some people here, By the way, I even tried to keep the "Bashing" to a min. and give some of the clueless here a little hint, so as not to sound like a basher. Besides not one person ask me about it!! Sheeesh you can't ask anything more from a guy, If the Rah..Rah crowd would just do an ounce of DD, good people like me would not be labeled a basher by some clown who couldn't find his way out of a paper bag. maybe someday I'll wise up and stop helping the clueless, cuz you know what, I spend a HELL a lot of time on my ass in front of this puter doing research and I sure as hell don't need that crap! Good luck Chas2004 I hope you do more research on your next adventure
Posted by: DOC _O
In reply to: shortbutlong who wrote msg# 299 Date:1/3/2006 6:25:28 PM
Post #300 of 425
Do you know an RS is coming?
How is that telling everyone? I could post that on a hundred pinky boards and be right more often than wrong.
one line saying a rs is coming is not a fact if you would have backed it up with a link or a reason it would not have been deleted.
Traders will bail, investors will buy. If the company has a marketcap of only $2.5 million, that is still really cheap in comparison to the artifacts the company may be holding. When the details of the documentary come out and we begin to find out what they've dug-up from the Fantome...what's it worth then? I think the company doesn't really care about pacifying penny flippers. They would like to get it out of sub- pennyland, where it is more attractive to serious investors. Remember all of those shares multiple insiders bought not long ago. Of course, all in my humble opinion. Have a wonderful weekend everybody.
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