Thursday, January 31, 2013 8:37:14 AM
It seems to me that the model for stock sales by companies is to stick it to the little guy. These bombastic reverse splits do just that.
As I recall, the Paul guy in Peru, holding a vast number of shares, returned a whole lot of them to the company and they were canceled. This is the opposite of the reverse split trend where the little guy with 1000 shares sees them reduced to 10 share and then sees the price per share hit rock bottom in a short period of time, grinding his investment dollar to pieces of pennies.
Add to this, the unusual history where early investors were treated to a forward split of 12:1, multiplying what they already had.
Many of us had our confidence shattered when POTG was traded into the ground in a fairly rapid price fall out. We tiny little sheep saw thousands of dollars hit with a shrink ray.
Anybody can check reputable quotes that include institutional holders and see that we little sheep investors have interesting company.
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