Wednesday, March 05, 2008 12:03:19 PM
I have owned Otel stock for 4+ years and started buying more shares optimistically after new owners bought out the company April 30, 2007 because thought it might have new potential as a startup.
After Feb 12, 2008 the company changed names to Ficaar and did a 10,000 to 1 reverse split. The value of my account is reduced to zero dollars and I have a very small number of shares.
Can anyone explain what is going on with stock? Is this something that falls within the SEC guidelines for reorganization of a company? Did they write all the old investors to $0 ?
Thanks
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