Replies to post #9533 on Enterra Corp (ETER)

[Peggy]

I will take a look ... smells like a reverse split to me.

[EarnestDD]

•Capital Change=shs decreased by 1 for 1000 split Pay date=11/12/2009.
•Capital Change=shs increased by 1.03 for 1 split. Ex-date=05/10/2012. Rec date=05/14/2012. Pay date=05/18/2012.

Reverse Split in late 2009.
http://www.otcmarkets.com/stock/AUMY/company-info
jmo

[Peggy]

Looks like this jumped up from triple zeroes because of the following.

Effective November 12, 2009, the Company effectuated a 1 for 1,000 reverse stock splits, thereby reducing the issued and outstanding shares of Common Stock from 29,758,526 prior to the reverse split to 29,991 following the reverse split. The financial statements have been retroactively adjusted to reflect this reverse split.

Are you familiar with how a reverse stock split works? Basically, the pps jumps by a multiplier (in this case 1,000) while at the same time the number of shares one holds is reduced by a factor of 1,000. Just before the reverse split the pps would have been around .0002, then poof it's over 20 cents. For a brief moment. Zero sum game at the time of the reverse split ... but that changes quickly when the insiders start awarding themselves copious amounts of post reverse split shares and start dumping them, thereby driving the pps back down.

When people say they are printing shares or printing money, that's what they are talking about.

Pretty good setup for the insiders huh? Of course, shareholders get torched.