BFHJ HUGE PLAY DIVY SPLIT >...(FLOAT 39 million shares )definately potential for 10 bagger!!!!!!!!!!!
heres the release
Beneficial Holdings Inc. Announces Tentative Dividend Ex-Date and Addresses Verified Short Selling Problem
Monday 02/22/2010 12:05 AM ET - Marketwire
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BFHJ 0.026 30.00%
As of 10:31 AM ET 2/22/10
Beneficial Holdings, Inc. (PINKSHEETS: BFHJ), a casino and hospitality investment and management holding company, previously announced its intention to issue a share dividend of 6 shares of free trading common stock for every 1 share of unrestricted common stock that a shareholder owns (holders of restricted shares will receive restricted certificates). This means that the shareholder will have 7 shares of common stock after the dividend for every 1 share currently held.
The Company issued a resolution directing that the ex-date for the dividend will be March 5, 2010. The Company requested that the shares be prospectively distributed on March 10, 2010. However, the Company notes that these dates are tentative in nature and subject to approval by FINRA. In the event that FINRA cannot perform their review in time for the March 10 date, the distribution may be delayed; however, the ex-date probably will not be delayed. The ex-date is the date you must have settled your positions to receive the dividend. This will not be treated as an ordinary forward split, so shareholders must factor in the settlement times for the ex-date when deciding when to purchase or sell their shares. In the event that the Company is notified of any changes, it will advise shareholders promptly.
In addition, the Company received information that a large portion of the daily sales of its common stock is due to short sellers and not retail investors trying to sell their shares. This short selling action is precisely why the Company needed to issue a dividend to make our common stock more liquid. Our shareholders cannot benefit from liquidity when short sellers are manipulating the price of the securities by creating a wall.
The following information was received from FINRA's published reports.
February 19, 2010: 220600 short shares of 306612 volume (72%). February 18, 2010: 157000 short shares of 619360 volume (25%). February 17, 2010: 660383 short shares of 1419469 volume (47%). February 16, 2010: 255864 short shares of 324864 volume (79%). February 12, 2010: 6000 short shares of 34500 volume (17%). February 11, 2010: 75000 short shares of 213000 volume (35%). February 10, 2010: 135000 short shares of 170700 volume (79%). February 09, 2010: 729786 short shares of 853186 volume (86%). February 08, 2010: 105000 short shares of 132895 volume (79%). February 04, 2010: 125000 short shares of 155400 volume (80%).
The Company believes that these short sell orders are stealing value and liquidity from our shareholders. "The Company will do whatever it takes to eliminate these trades and to make the sellers of these short positions cover their trades. It is clear from the percentages of volume that these short sellers could not logically be covering their sell orders," Alex Papic, Vice President of Beneficial Holdings, Inc., said.
ABOUT BENEFICIAL HOLDINGS INC.
Beneficial Holdings, Inc. is an international casino investment and management holding company, specializing in acquiring undervalued gaming assets. The Company presently maintains one hotel and two physical gaming properties and is in the process of acquiring a third property while creating its online casino. The company funds its acquisitions with private investment capital with the intent to increase shareholder value while building a world-class gaming operation.
The Company's authorized shares are 903,000,000 to accommodate the six share dividend. Presently, there are 89,587,907 restricted shares, which will increase to 627,115,349 after the six share dividend. There are no more than 39,412,093 free-trading shares presently, which will be a maximum of 275,884,651 free-trading shares post-dividend.
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