I recall a stock (pinky) running up 10,000% recently.... For the life of me I can't remember the name..... Jim Bishop would know..... It was about 2 months agoish..... Same type of deal I think.... R/M/S.....
Do I get a 1 for 1 exchange when all the papers are signed?
Thanks
RESPONSE:
There will not be any share exchanges. You will continue to hold your stock in EFGO without any changes resulting from the acquisition of Esprit’s assets by the fully reporting Pink Sheet Company.In addition, there will be a distribution of shares in the new fully reporting Pink Sheet Company in proportion to your current holdings. As the share structure of the new Company will be different than Esprit’s, these shares will be issued as a percentage of your current holdings in Esprit.
adar7. Here is a definition of r/s... Note that there is no mention of formation of a new company--the r/s is confined to a reduction of shares within the same company. We have formation of a new company here. Therefore, reverse merger, not r/s... "What is a Reverse Stock Split?
A reverse stock split is a special kind of stock split which reduces the number of shares outstanding. This increases the price of each share of stock. Companies usually declare reverse splits to avoid being delisted or to hide a declining stock price."
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