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Wednesday, April 29, 2009 1:55:42 PM
When the O/S is too high (especially if there are also Preferred shares, convertible,) the only viable option, to give it any value, is a Reverse Split.
Obviously, that is not good news to shareholders (Stuckholders,) as the value usually continues to deteriorate.
Have a look at NXHD. The last two RSs have left previous shareholders with 1 share for each 100,000 old share. Worst of all, the new shares are now back at .0001. Someone with one million shares before those last two reverse splits would now have 10 shares with total value of $0.001. That means the old shares are each worth $0.000,000,01. TECHNICALLY NOT ZERO.
Unless, by some miracle, WT, visiting Ghana, obtains huge contracts and Government subsidies making Amelot, like a phoenix, reborn from its ashes.
Chance of that: .00000001 of 1%
g.p.
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