Saturday, September 29, 2007 4:21:57 PM
One thing I learned a long time ago....is that #1 ACCR will never issue 1 single share of common past the 129.1mln,,,,,and #2ACCR will be bought out one day.
SEC cuold delist this stock......but they haven't. ACCR is just a quiet shell, sitting in pinky land....a shell waiting on the shelf, for someone to come out and dust it off, and use it.
It's alot cheaper than paying the merrills or the goldmans or the morgan stanley's MILLIONS in FEES to underwrite a new IPO. Much cheaper to just buy out a low float shell, and then do a small reverse like 2-1 or 4-1........just enough to get the stock over $4 so that the real business buying the shell can get listed.
BTW, I found this email months ago:
http://www.sec.gov/rules/petitions/4-500/mlbaum050205.htm
I thought it was cool on BAUMs to send letter to the SEC when he was fighting to get the short reporting NASD rule changed (rule 3360)
It's been changed, and recently it's now bi-monthly reporting.
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