Wednesday, October 17, 2007 1:18:26 PM
There will soon be a reverse stock split. Look at the history of this shell. Pinksheets.com lists the history under the header "Current Capital Change". It shows that on May 17, 2007 a reverse split of 1 for 1000 was issued.
Also the previous incarnation of the shell, IBAC did the same thing on March 10, 2006 decreasing the outsanding shares with a 1 for 80 split. Why do this? Because the number of shares they are authorized to sell stays the same. They can increase the share price by doing nothing other than the R/S.
Then, after getting the share price up by the R/S, they will start pumping up the stock. It will get highr then because of the list of suckers that they will buy to market the company to.
Finally, GUESS WHAT? They will issue new shares to raise money for the company. If they get enough money the plane gets built and who knows maybe even the stock holders make money. Of course thats if the plane doesn't crash, or there are problems, or they never sell any.
The last and most likely scenario is that new shares are sold, millions are raised but not enough to finish the plane. The money will be gone and the company will then become something else, your guess as good as anyone else but the stockholders will get NADA and hope the next incarnation does better!
One error to correct: The 155 employee's were as of February 2nd, long before the airplane guy came into the picture. Not my error just someone who cannot understand what they are reading.
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