Replies to post #44365 on Seven Arts Entertainment Inc (SAPX)

[infiniteloop]

•Capital Change=shs decreased by 1 for 5 split Pay date=01/16/2009.
•Capital Change=shs decreased by 1 for 5 split Pay date=05/12/2011.
•Note = Company delisted from NASDAQ on 09/14/12
•Capital Change=shs decreased by 1 for 70 split Ex-date=09/04/2012.
•Capital Change=shs decreased by 1 for 50 split Ex-date=05/03/2013.
•Capital Change=shs decreased by 1 for 20 split Ex-date=10/16/2013.
•Capital Change=shs decreased by 1 for 100 split. Ex-date=02/13/2014.

So amusing. And I love math.

100 * 20 * 50 * 70 * 5 * 5 = 175,000,000.

If you somehow had 175 million shares in 2009 and never sold, it's worth 1 share now (and of course one share is worth a 10th of a penny)! Whee!

Consequently, it's also how almost every dollar that has ever been invested has been turned into salaries.

The delisting from NASDAQ was a pretty amusing time period. It's around the time I stepped out of SAPX, but I wanted to keep watching the drama.

I wish we had a decent table showing how often and how many shares existed. The thing is - at any given moment - we never knew the answer to this. And if you don't know this critically important piece of information, how can you invest?

By the time the filings came out and told us, damage was done - and then people would quote the filing as if it was gospel and as if the company somehow can't have done any more dilution since the filing - and the next filing comes out and we found that they always had actually made more shares, unbeknownst to anyone. That didn't stop fresh eyes come in and announce that "they've seen the bottom and this is it!" quoting some technical or another (accumulation is a popular one).

There were a few times when shareholders were supposed to vote on various issues, but the dates got changed around, and I never heard that any of the shareholders here actually successfully made it to a voting meeting. Once someone said a note was on a door saying it was cancelled. Everything about that was very strange.

Though I did say at the time that 'voting to not dilute is akin to voting they not be able to pay their bills and stay in business (thus dropping the share prize to zero)'. Because it's clear that dilution (debt reduction program) is SAPX revenue and the only thing keeping the doors open. They have never shown signs of letting up (and no reason to think they're letting up now - nothing about their IP shows that it's capable of bringing in money).

If you think you're sure about how many outstanding SAPX shares exist, wait a business day, and then you should no longer be sure.

I've never been able to say that day traders can't make money on this symbol (somehow) - but I know most get their asses handed to them.

It may be safer now that it's no longer dropping 10% per day, due to the the price being so close to zero. However, I'd be wary about another huge R/S and holding too long. ... let's just say I wouldn't wish to hold it through an R/S. This symbol doesn't even do a bounce back after the beat down.