After seeing how ICEP, ININ, and now WOWS last week reacted to their big forward split news, I came across ADHC (ANDROS ISLAND HOTEL & CASINO) News today announcing a 10:1 FORWARD split for this under $1 stock in addition to a few dividends in the form of IPO spinoffs:
Andros Island Hotel & Casino Announces Investment In Air Charter
Company; Plans to Forward Split Stock 10 for 1
Plans Spin Off of New Horizons Airways, Inc. Stock
MELBOURNE, Fla., May 11 /PRNewswire/ -- Andros Island Hotel & Casino, Inc. (OTC Bulletin Board: ADHC - news) announced today that it purchased 2,500,000 restricted common shares of New Horizons Airways, Inc., Melbourne, Florida. The Company said it will spin off shares of its newly acquired common stock of New Horizons Airways, Inc. to its shareholders on August 16, 1999 (pay date) and that shareholders of Andros Island Hotel & Casino, Inc. will receive one free and restricted common share of New Horizons Airways, Inc. for each 1,000 (one thousand) shares of Andros common owned on July 31, 1999 (the record date).
The Company said it may make additional investments in New Horizons Airways, Inc. in the near future. According to the Company, New Horizons Airways, Inc. is a development-stage company owning a single Cessna 10-passenger airplane but that the air charter company expects to acquire additional planes through acquisitions of privately owned air charter companies, leasing from a third party aircraft leasing company or through cash purchases. The air charter company plans to commence charter service between Tallahassee, Florida and Biloxi, Mississippi, later this month.
The Company also announced that it plans to forward split its common stock on a ten-for-one (10-for1) basis on May 31, 1999 (the pay date) to shareholders of record on May 25, 1999 (the record date). The Company stated that on May 31, 1999 each one share of common stock will be converted into ten (10) shares of common stock.
Andros Island Hotel & Casino, Inc. common stock is traded in the over-the-counter market under the trading symbol ''ADHC''. To receive a current Corporate Profile and complete due diligence package on the Company, please call Fifth Avenue Communications at 800-992-6616 or visit their web site at: stocksfifthavenue.com or e-mail a request to: fifth@juno.com |
