Spoke with an ACLH rep and a USAA rep.
Before I start I respectfully ask that no one accuse me of pumping, bashing, spreading rumors or anything else. A quick look at my posting history will show that I'm an ACLH shareholder and supporter so I'm not going to justify any insulting posts with a response. I'm hesitant to even post this because I don't want anyone to panic, or take anything out of context but I'm hoping others can shed some light on the situation as well. Here's what I was told:
By the way, I actually hold my ACLH shares through Etrade because USAA charges ridiculous commissions on penny stocks. However, I still have insurance, checking, and other investments through USAA.
I logged on to USAA around 3:40 and tried to get a real-time quote for ACLH. The USAA website said that symbol was invalid. I then called USAA (the first time) around 3:45, and they weren't sure why the symbol was coming up invalid. I then asked about a reverse split and was told that a 1:30 r/s was to be in effect as of 5/14/2010. They were given this information by ACLH's transfer agent on 5/10/10. I asked why Etrade and others weren't acknowledging a r/s in any way and the USAA rep could only speak for USAA. After I saw on Ihub that USAA's glitch was fixed, I checked the symbol again and it came up without issue and showed a share price that did not reflect a r/s. It was the same pps as displayed on Ihub. I then called USAA again, spoke with a different rep who still claims that a 1:30 r/s was to take effect on 5/14/2010. He had no more info for me. Anyone who knows USAA will tell you they're a very reputable company and should be trusted. That doesn't mean they were given accurate information, it just means they were being honest about the info they were given. As far as USAA is concerned, a r/s was supposed to be in effect as of today.
I then called ACLH around 4:15 and spoke with a rep from corporate. He claims to know nothing about a r/s. He took my name and phone number and said the people that handle those issues are out of the office and he'll have them call me back. I was the 2nd person he recieved a call from today about the r/s. He sounded frustrated and said he thinks someone is putting out bad info about the company. I told him about USAA and he didn't know what to say. I suggested someone from ACLH get on the phone and call USAA to figure out what's going on. I haven't heard back yet.
So, there is clearly some confusion and/or miscommunication going on with regards to a reverse split. At this point, I honestly don't know what to think. Is it possible that some people stand to lose millions by ACLH's pps rising very high very quickly, possibly with news this weekend, and those people have resorted to tactics like posing as a T/A and giving out false info to turn buyers into sellers? Or, is ACLH legitimately planning on executing a r/s in an attempt to capitalize on the once-in-a-lifetime situation they've been catapulted into? Which, by the way, could be a good thing for us as shareholders. Reverse splits can be good in the right situation, and ACLH appears to be in an absolutely perfect situation. Let's not immediately assume that a r/s is a bad thing.
Anyone else have any info? I also just noticed I only have 4 posts left for the day so I'll try to use them efficiently.
