I asked someone with tons of experience about this on another board. Here is her answer. Interesting to say the least.
Posted by: janice shell
I know. When Beebe hit the message boards last fall (or was it earlier?) I exchanged some PMs with him.
My take at that time was that he was almost entirely clueless about how all this stuff works, but thought he was a genius.
I haven't followed PHGI since then, but obviously he's made a mess of things. I'm not surprised. The r/s is necessary, given that the stock currently has no bid and is probably mostly trading below 0.0001, but will probably destroy any confidence in the company that may be left. It's effective tomorrow. It'll probably get slammed within minutes of the open.
Youse get my drift? All in my not so humble opinion!
I collect indians! My Boyfriend is a Seminole Indian! And he approves this message!
