I'm only starting this board as fair warning. My investment was wiped out in less than a year by three reverse splits.
OF COURSE...I have nobody to blame but myself for not bailing as soon as I read about the first R/S (a few weeks after I bought). I held too long.
Since September of 2002, this company has continuously repeated the pattern of authorizing large amounts of shares, issuing press releases to attract investors, then Reverse Splitting those shares, rendering those investments worthless.
Here is a quick history:
American Fire Retardant Reverse Split History
AFRN 1:2000 R/S 01/06/2005 NAME CHANGE TO GMSV
AFRN 1:2000 R/S 11/01/2004
AFRT 1:250 R/S 09/01/2004
AFRR 1:250 R/S 03/22/2004
AMFR 1:200 R/S 06/27/2003
AFRC 1:10 R/S 09/12/2002
IN MY OWN OPINION: This company needs to be halted by the SEC. DO YOUR OWN DD. |
