I just reread the documentation for the reverse split, and found the reference to the fact that noone would receive less than 100 shares. Is there anyone who is knowledgable of this procedure and can explain what paragraph 11.d. (SHAREHOLDER'S EQUITY) means? It is extracted from the 10K filed by China Swine Genetics on June 30, 2009. For some reason I could not cut and paste the website.
d. Reverse Stock Split
Effective on September 30, 2009 the Company implemented a reverse split of its common stock. No fractional shares or scrip were issued; rather, in the case of each shareholder who held less than one whole share or held 100 or more shares after the Reverse Split, the Company will purchase any fractional share resulting from the Reverse Split for $5.28 per share. In the case of each shareholder who would otherwise hold at least one but fewer than 100 shares as a result of the Reverse Split, the Company will issue a number of shares equal to the difference between the shares held by the shareholder and 100, so that each such shareholder will own 100 whole shares.
Did I miss something?