Shi Corporation (SHCC)

[JimProfit]

just got this msg from my broker:


REVERSAL OF MATRIX ENERGY SERVICES CORPORATE ACTION 12/6
Cusip: 57683Q106
Symbol: MXSV
Originally Matrix Energy Services (MXSV)announced thatthere would be a 1:1,000 reverse split with no shareholder to receive less than 500 post split shares. IB processed according to the information received from the depository and provided all customers with at least 500 shares of new cusip 57683Q205. During our request to receive the additional round up shares from the agent, it was made known that shareholders who purchased positions after September 14, 2007 would not be entitled to the round up, only those who held positions prior to this date would be eligible.
This information was not made available to IB until this week. The agent is only going to provide us with additional shares owed to customers who held position before this date.
In order for us to rectify the situation, IB must reject the corporate action processed for any ineligible customer. This will create a short position for each. Since our processing on 12/6, those customer who were NOT NOT entitled to the full 500 shares have sold out of their position are going to reflect a short position tomorrow.
The correction will take place with thisevening's processing. Please note that at the time of our original processing, the price of the deliverable MXSV was trading at $1.65. Current price as of today is $1.60.

Interactive Brokers Customer Service