I learned about this one from a hypster...This smells like a job for the SEC, I've sent a PM to Janice shell to investigate the mysterious appearance of the Datapower announcement on their test web site days before it was announce on the wires. Hype, excitement a run on the stock from approx. 2 cents to 19 cents!! Then it happened...the bottom fell out and theirs talk of a reverse split. Sounds VERY strange...IMO
SEC are you listening?
ISSM-Reverse split it was bound to happen...
FROM ISSM THREAD:
What am I missing here??? I read the SEC filing and it clearly says they plan to do a 10
to 1 reverse split. That will take the O/S shares down to a little over 2.5 mil. Than they
plan to issue 3.68 mil shares to Datapower for the merger. That means there will be
around 6.2 mil shares O/S after all is said and done, with Datapower having a 59
percent stake in ISSM. I guess my question is now you can do a 10 to 1 R/S and than
issue 3.68 mil new shares??? Sounds flaky to me. But as a old investor who gave up all
hope of ever recovering any of my investment, I am ok with this if it means someday I
might recoup some of my investment. The thing that bothers me is I don't trust Terry.
What is to stop him from pumping out more shares again after the R/S. They never
consulted the shareholders when they pumped out the 25 mil. I hope that Brian Harris
dumps Terry when Datapower gains control, that would be a positive step in my opinion
since I have no trust in Terry at all!!!! |
