The series "E" shares do not convert into 100,000 common for each series "E" share, due to the 1 for 20,000 reverse split. It is now 5 common for every 1 series "E" shares once they start converting, and if they start converting.
I still have not seen my series "E" shares reappear in my e-trade account since they disappeared some months ago. Has anyone actually seen their series "E" shares reappear in their account and, if so, who is your broker? I have seen nothing in e-trade yet.
The drilling in the Utica took place as planned, but we have heard nothing from the company as to the outcome of the drilling, except to say that the core samples were being analyzed. Even with no producing well in the Utica, I think the company is probably worth more than the price it is currently trading for. I'll just hold my shares and wait to see what happens.
A merger or acquisition of some kind would definitely be a possibility at this level, in my opinion.
Cropduster
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