I remember something about a RS a few weeks back. Something brutal...2000:1. Ugh! I had dumped mine about a month ago, when it seemed like a no-go.
Took a 50% haircut, but I just hated it. Then this got posted:
Posted by: 500_and_Long
In reply to: None Date:3/12/2007 3:03:17 PM
Post #of 44822
RFDU Mar 07, 2007, 1 : 2000 RS (EWORLDWIRE via Comtex) -- Rent Finders USA, Inc. (Pink Sheets: RFDU) is announcing the sale of its Florida operations, Jordyn Taylor Properties, Inc., to existing management for $400,000. The consideration will be taken back as a note and most likely be effective as of February 28, 2007. The company is also announcing a 1 for 2000 common share reverse stock split to be effective March 19, 2007. Fractional shares will round up.
"The Board and most of its material stakeholders have decided it is time to make a change. We intend to negotiate much of our subordinate debt into equity, and realign our business under assets that will be more technological than brick and mortar," stated CEO William H. Luckman.
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If you take anything I say as advice, you're crazier than I am.
