Hi All, here is the email response I just received this morning.
Dear Karen,
Please note that nothing has changed in the direction of the Company. Per our previous news release, we can reiterate that “Once the name change has been completed by FINRA, Southern Contracting will begin executing its business plan for Consulting work and Bid Projects. The Company has been pounding the pavement to set up some Sub-Contracting work to begin once the name change is official. We cannot accept work under Southern Contracting until that time and do not want to accept any under BCAP.”
As noted, a future reverse split was filed with the State to be effective on June 12, 2017. From a trading perspective, however, it is FINRA’s decision whether the changes are accepted. If accepted, the changes may be effective on June 12, 2017 or later, depending on whether the transaction is extensively reviewed by FINRA.
If the R/S is approved by FINRA, initially the Net Asset Value of a shareholder’s position will remain the same, just with less shares, and will increase or decrease depending upon the market.
Regards,
Investor Relations
Southern Contracting, Inc.
ir@southerncontractinginc.com
www.southerncontractinginc.com
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Email that I sent to Southern Contracting:
Hello,
Please clarify what is going on with your Company. I just saw a document you filed for a reverse split 1:7500. Please why didn't you put this news out so that we that invested our life savings in this stock can know and make a decision. I feel manipulated and disappointed. Please clarify.
Thanks,
Karen
AI
