It was in one of their reports a while back, a year or two that the value was mentioned of around
$1.00. I will try to research during the weekend to find it. It's in the SEC filings. As for the 2000
shares, they want to go private but with the large number of shareholders they could not. I have
no idea how far they have gotten. In addition they were buying back shares and were planning
a reverse split and pay only 1 cent for each share. If you had 2000 or less shares they could give
you the cash $20.00 or less and buy you out and you had no say. The more shareholders we have
with at least 2000 shares, that will prevent them from going private.
It does not really matter money wise wether they go private, but we can get better information when they are not. Once the reverse split takes place, if they are able to accomplish it by getting the
shareholders to sell at such a low price the stock value will zoom and in a year or two come out again
and be public. In essence they made a killing by going public and now they want to get back the shares outstanding for 1 cent.
Remember they hold the majority of the shares, so the shareholders can not interfere in what they
do, but we can hold on to our shares and benefit when they go public again if they should be able
to go private. I bough my first few thousand shares at around .25, so what I am doing is buying
more at .01 and .013 until I reach a million shares or so. I hold over 100,000 shares now but I am
still way back from owning 1 million. If there is eventually a reverse split of 2000 to 1 as they plan
my number of shares will drop but the value will go up and eventually hopefully will make a large
profit when I do sale.
