Deep Blue Marine (DPBE)

[PinkElephant]

Well, it's possible, but they can get away with almost anything on the pinksheets. (That's why everyone is always telling us to stay away from the pinks.) So I don't know if they are required to keep the conference call or not.

As was mentioned reverse splits are usually bad news. They are usually an indication the company is in bad shape. Sometimes, in connection with a merger they are done to bring share structures into alignment so the kind of stock swap mentioned could take place. Since they already said it was a 10:1 split that means they already have an AMEX shell lined up or its all hogwash.

In general a reverse split is supposed to be a zero sum game. You go from 10 shares at $.02 to 1 share at $.20, either way you have $.20. Unfortunately, they are usually accompanied by a sharp drop in price before the split. It is practically a self fulfilling prophecy.

Here is an example of a chronic reverse splitter:

They drove the price down to nothing, reversed split, and repeated several times. Unfortunately, some folks think Wilf has a reputation for this. I have no idea what his intentions are here or why the R/S would be legitimately necessary. Like I said it could have something to do with the merger and qualifying for the AMEX.

If the AMEX thing actually happens first, I would be less worried. Reversing with an AMEX shell isn't a trivial thing. If it really happens, it is because Wilf probably thinks he is sitting on a substantial find. That would be the deep water site IMO.

If, as someone said, only half of things come true (no AMEX, only R/S) I am out of here in a heartbeat.