My exact same sentiments!!! This company does a reverse split of 1:20 on 10/5/1998. They now want to do another one, 1:10 on 3/29/1999.
Someone needs to explain to me how this has went because the numbers don't add up to me. When I look back at the 10QSB reports for last year, particularly the August 14, 1998 report it shows that there were 50,000,000 shares of common stock. If a 1:20 split was done on 10/5/1998 that puts the number of shares of common stock at 2,500,000. Yet the changing of the gaurd release on March 5, 1999 says that 6,666,6667 shares were issued to 8 investors. I thought with the reverse split there were now only 2,500,000 shares left? They said the 6,666,667 shares represented approximantly 80% of the issued and outstanding shares of stock. This would put the total number shares of outstanding stock at 8,000,000 shares. As I said before the numbers don't add up to me!!! Help? |
