Disclosure: I am out of this one.
Disclosure
I am OUT of this one. I am not bashing this but apparently I've been looking at CEO's statements after all the past reverse splits and how he has been increasing shareholder value.
January 26 2008: 12000:1 RS
As a result of the reverse
split, the company is issuing 1 common share for each 12,000 shares held on
the record date of January 15, 2008. Upon completion of this reverse split
the company now has total of 445,000 outstanding common shares and total float of slightly less than that amount.
CEO says:
"We believe that this reverse split will
provide immediate important benefits to our shareholders. The movement to a significantly smaller number of traded shares will allow us to better service
our shareholders and at the same time signal to the marketplace that we are
positioning ourselves as a company worthy of serious consideration as we
prepare to move out of our developmental stage and into our marketing and
expansion mode. The timing of this restructuring is reflective of the steady
progress of our fund-raising efforts, and coincides with finalization of
several strategic partnerships, new marketing launches, and the final beta
testing of several Internet technologies, all of which we will officially
release to the public at our Official Launch Event on February 8 & 9, 2008.
We are very excited about the future of our company, and look forward to
making additional important announcements in the coming weeks and months."
After 4 Months --- Another R/S
This restructuring was effective as of March 26, 2008. As a result of the reverse split, the company is issuing 1 common share for each 20 shares held on the record date of March 26, 2008. Upon completion of this reverse split the company now has total of 5,476,289 outstanding common shares and total float of approximately 1,800,000 shares.
Are u kidding me?? In January he does a R/S and brings the O/S down to 445,000 shares.....4 months later the O/S is over 5 billion.
CEO says:
"This reverse stock split is the latest in a series of steps we have taken to better service our shareholders by positioning ourselves strategically in the market place. We believe that our stock is now fairly priced in the market place and we are very excited about the future of our company. Our marketing efforts are gathering momentum very quickly now, and we anticipate making several important announcements in the coming weeks."
Now CEO confirms this:
eWorld Companies Confirms No Changes in Authorized and Common Shares or Public Float in Past Year
The above statement is just stating the fact isin't it? Does it guarantee that another R/S and another change of symbol won't happen?? EWRA this time??
MAYBE the deal will go thru. If CEO had commented at ALL about the buyout offer then it would be a different story. Maybe he doesn't want to say who is the buying party. Why would a buying party choose to conceal their identity? Too many questions in my mind...and I cannot take this risk. Good luck to all who can.
Company has a history of reverse splits and CEO commenting each time that they are making "shareholder value". I wish everyone good luck and hope that the deal goes thru.
AI
