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[Phoenix-Rising]

SWNE/MCII latest...LOL...

Posted by: marketraider
In reply to: None Date:6/13/2007 12:22:39 PM
Post #of 1735

I just spoke to the TA again and he todays states that the company is waiting on a ruling from NASADQ concerning the round up of post split fractional shares and that he is not issuing any shares to the brokers until he gets a ruling from NASDAQ on this. Yes he said "NASDAQ" and I don't quite understand that but that's what he said. He said that there had been some abuse of the round up caused by a posting on a message board, unbelievable! He used the example of someone buying 1 pre-split share in 100 accounts and said it was never intended that they should receive 500 post split shares but he would wait on the "NASDAQ" ruling which he expected today or tomorrow. This story just grows and grows.