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Thursday, July 08, 2010 1:13:13 PM
Yes you are correct that the original Reverse Split was to close out the Shell company that Prior acquired, however the OS at that time was 1 Billion shares. Now the OS is up to 2.5 Billion shares. Hopefully, the money raised by these Convertable debt offers is being used wisely by OWVI to expand the business.
However Prior is walking a fine line when he chooses to dilute. Many companies that I have owned, such as GSPG and MYNG have done this same thing and have ultimeately had to do a Reverse Split when OS reached into the 2 to 4 Billion share range.
Hopefully OWVI is that 1 in 1000 Pinkie that can actually survive w/o killing off the original long term investors.
I'm still holding, even though I'm down >80% but am getting a bit nervous. I will probably wait to see if SP comes through on the promised audited financials by the end of summer before I reasses my position.
GLTY
Skinut
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