Coal

[mhlld]

National Coal Corp, today's guidance for 2005, explains their 11/02/2004 SEC filing for a 1 for 4 reverse split. IMO they are attracting institutional investors. Don't forget Jon Nix, CEO, and Mr. Belote, Director, hold 41,989,387 or 95% of the 44,290,216 total shares. Also, Gerald J. Rubin, CEO of HELE, and Byron H. Rubin, Director of HELE, took some of the last Preferred offering.
Looks like there will be 19.5 mill shares after preferred are converted to common and the 1 for 4 split. I'm not an expert on deciphering SEC filings. Here's the links.



http://www.sec.gov/Archives/edgar/data/1089575/000117091804000649/pre14c.txt
Excerpt..
REASONS FOR THE REVERSE SPLIT. The Reverse Split and resulting anticipated increase in the price of our common stock should enhance the acceptability and marketability of our common stock to the financial community and investing public. Many institutional investors have policies prohibiting them from holding lower-priced stocks in their portfolios, which reduces the number of potential buyers of our common stock. Additionally, analysts at many brokerage firms are reluctant to recommend lower-priced stocks to their clients or monitor the activity of lower-priced stocks. Brokerage houses also frequently have internal policies that discourage individual brokers from dealing in
lower-priced stocks. Further, because brokers' commissions on lower-priced stock generally represent a higher percentage of the stock price than commissions on higher priced stock, investors in lower-priced stocks pay transaction costs
which are a higher percentage of their total share value, which may limit the willingness of individual investors and institutions to purchase our common stock.

SEC Page with all of National Coal's filings
http://www.sec.gov/cgi-bin/browse-edgar?action=getcompany&CIK=0001089575&owner=include