Actually, that is once again not quite correct. Traditionally, when a pinkie reorganizes, a huge reverse split precedes the merger/reverse acquisition and reissuance of shares just like the 1 for 400 RS that was executed prior to Shayne taking it over. Accordingly, once this stock blows off the dividend and gasps its final gasp, you can look for your position to be reduced by somewhere between a 1 for 300 to a 1 for 500, with a new outstanding of between 1,000,000 to 600,000 shares which then becomes the new float while another few hundred million shares are issued to the new kids on the block.
For example, BZTG was trading as high as the equivalent of $143 a share pre-reverse split. That means it was actually trading for around $.47 at the time. Most of the time it was less than half that though and in the weeks prior to the take over it was around $.08 (equivalent of $15 now). Likewise, your shares at your stated basis of $.03 would have to trade over $9 a share following a reorganization at a 1 for 300 reverse and $15 if they reverse you by 1 for 500. No.. the only people that make money on a reorganization are the ones holding the huge positions, like Shayne. He could easily come out of it with hundreds of thousands of dollars or more if he does it right. The rank of file will get basically nothing.
It's good you didn't invest more than you could easily afford to lose and still maintain a cheerful demeanor but I wouldn't look beyond August 31 for possible redemption. Shayne was kind enough to put a fixed end date on this fiasco and that will serve us all in the long run.
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