Replies to post #6340 on Petro America - Kansas Corporation

[Pooper]

Pryme

I did not hear that, nor did I see it in NDs narrative, and I ran my tape back, did not hear this

At least he admitted the stock won't be trading in the near future.

He said
after we get the 15c-211 and we are trading
we are looking at 6 months down the road to follow up with an IPO
will have tremendous value


??? Help me out here -

P

[Old Hillbilly]

Reverse stock split: You have to be trading to even do this.

True but this usually happens @ the inception.
9.99 times out of ten there is a reverse split when a company takes over a shell or aka a reverse merger. The shell stock is usually worthless so you would want 100 - 1,000 shares to equal 1 share of the new company / symbol / shares.
So lets say I take over this shell that is selling for $.03 a share and I want my new shares to sell for $3.00 I would "normally" do a reverse split of 100 to 1 for all the share holders of the shell company. All the existing shares of my company would go on the market @ $3.00 a share as would the old shares of the shell company but the old shares would be reduced by 1/100 in numbers.
In effect the old shares of the shell company are still $.03 so those shareholders didn't get hurt.
Now remember OH was the CEO of ASWD in Nov of 2008 according to the SEC when he filed form 15:
http://www.secinfo.com/d13bp2.tB9.htm
CERTIFICATION AND NOTICE OF TERMINATION OF REGISTRATION UNDER SECTION 12(g) OF THE SECURITIES EXCHANGE ACT OF 1934 OR SUSPENSION OF DUTY TO FILE REPORTS UNDER SECTIONS 13 AND 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934.
(Did OH think since he filed that he wouldn't have to file any more forms when he did a reverse merger??LOL)
Shares of ASWD were selling for $.001 - $.003 from 11-08 to 04-09 and who knows how many shares OH had/has ?? At any rate of course he didn't want to do a reverse split!!!! <beg>
http://www.reuters.com/finance/stocks/chart?symbol=PTRZ.PK
(I like their charts you can go all the way back to when GL was going for +$200 a share)
What really pisses me off is I "think" he used petro kansas money to try and pull this off. Why didn't he file the 15c211 or whatever required forms??? Why two petro america companies?
Sorry I digress.... Back to topic:

Not to be confused with an established company who's shares have ,lets just say, reached $100 a share and people have quit buying because they are to expensive so the company does a 2 for one forward split
(doubling the amount of shares)which brings the cost per share back down to $50 a share to get people back into buying, the more affordable, shares @ $50.
I have never heard of an established company doing a revers split with their shares. But I'm just an old hillbily and don't get to the big city very often <BG>