MSB Global Capital Corp. (MSBM)

[fazoolius]

November 06 2007, Russell Industries No Reverse Split for 2007

Tuesday, November 06 2007 6:59 AM, EST Business Wire
HOUSTON --(BUSINESS WIRE)--
Russell Industries, Inc. (Pink Sheets:RSDS), announces that its Board of Directors has decided that it will not ask its shareholders to vote for a reverse split in 2007. "The Board and Management feel that the present price per share of RSDS is not reflective of the Company's assets and potential. If there is little to no improvement during the remainder of the year, the Company will recommend that this action be put to a vote sometime during the first quarter of 2008," said Rick Berman, President and CEO.


Isn't Rick Berman the management and only board member? Funny how hos statements make you think there are other that are making decisions. I would be curious to see how many shares the CEO has and how we are going to go about voting. Will we be able to vote by proxy? Will we be getting something through the mail? My guess is that he will eliminate the shareholders from the process like he has done time and time again. Sounds like Berman will be making the decision all by his lonesome.

Any thoughts on what the R/S will be? I think it will all depend on the O/S at the time and since we have a gagged TA, I am not sure of what the O/S is right now.

In the ned, my bet is on a 1/1000 or 1/2000. This would put the A/S at 50 or 100 million and give him plenty of room to raise the A/S to 1 Billion and start looting investors again. At a PPS of .10 to .20, he could really move that down to say .01-.05 a share before he implements his next 504....errrr...generation of liquidity scheme!

-faz