Word to the wise - do your homework on stocks and only buy legitimate companies that have products and earnings. Don't buy stocks from misleading sites like americanbulls. They don't provide history and include misleading signals. I happened to buy ADSD the day before its Reverse Split. Why does the SEC allow R/S's at all? It only hurts shareholders, while benefitting owners. It's like legalized company theft, and they can do it repeatedly. Forward splits are fine. R/S's should be illegal!
If anyone is still watching ADSD, I did a search on ADSD and shell companies and found this below. I was even surprised that it had started trading again. What does the below statement mean for any remaining shareholders?
"Addison-Davis (CIK No. 932127) is a Delaware corporation located in Westlake Village, California, with a class of equity securities registered with the Commission pursuant to Exchange Act Section 12(g). Addison-Davis is delinquent in its periodic filings with the Commission, having not filed any periodic reports since it filed a Form 10-Q for the period ended March 31, 2006, which reported a net loss of $2.7 million for the prior nine months. On October 5, 2006, Addison-Davis filed a Chapter 11 petition in the U.S. Bankruptcy Court for the Central District of California, which is still pending. On August 6, 2007, at a status conference in the bankruptcy case, Addison-Davis’s president advised the Commission’s bankruptcy counsel that he had received the Division of Corporation Finance’s delinquency letter, but that until the reorganization plan’s funding came through, the company did not have the money to bring its periodic filings current. As of December 20, 2007, the company’s common stock (symbol ADSD) was quoted on the Pink Sheets, had twelve market makers, and was eligible for the piggyback exemption of Exchange Act Rule 15c2-11(f)(3)."
