It's easy to keep the number of shares low if you do reverse splits 6 times in 4 years. The only problem is that if you bought 100 million shares before the splits, you'd have less than one (1/20 of one) share now. Even buying 1 million shares just over a year ago, you'd be down to 2000 shares, worth 20 cents. Never underestimate the power of a reverse split to wipe out your investment. And a reverse split is coming. There is no "business"- Eugene has no way to pay himself except by printing and selling shares. And when he gets close to the authorized share count or the stock drops to .0001, he has to do a reverse split to keep his paychecks coming. And where does the money for his paychecks come from? The bagholders of this stock. Once again- there is no business other than printing stock.
•Capital Change=shs decreased by 1 for 100 split. Effective date=1-30-04
•Capital Change=shs decreased by 1 for 4 split. Pay date=8-17-07.
•Capital Change=shs decreased by 1 for 10 split Pay date=12/14/2007.
•Capital Change=shs decreased by 1 for 10 split Pay date=11/04/2008.
•Capital Change=shs decreased by 1 for 100 split Pay date=08/04/2009.
•Capital Change=shs decreased by 1 for 20 split Pay date=06/17/2010.
•Capital Change=shs decreased by 1 for 25 split. Pay date=02/02/2011.
Do the math. Buy 100,000,000 shares 1-29-04.
After the 1:100 reverse split, that's 1,000,000 shares.
After the 1:4 reverse split, that's 250,000 shares.
After the 1:10 reverse split, that's 25,000 shares.
After another 1:10 reverse split, that's 2500 shares.
After that 1:100 reverse split, that's 25 shares.
After the 1:20 reverse split, that's 1.25 shares.
After the 1:25 split, that's .05 (one twentieth) share.
You can try to play this stock for a quick turnaround, but if you're in it when it splits, your investment is toast. Lots of better places to put your money- even by the standards of pennyland this one is a loser.
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