Joe; this may of interest, PCTH.ob w/200-1 reverse split:
Pacific Aerospace & Electronics, Inc. Completes 1-For-200 Reverse Stock Split
Monday February 17, 9:00 am ET
WENATCHEE, Wash., Feb. 17 /PRNewswire-FirstCall/ -- Pacific Aerospace & Electronics, Inc. (OTC Bulletin Board: PCTH - News), a diversified manufacturing company specializing in metal and ceramic components and assemblies, announced that it has effected a 1-for-200 revere split of its outstanding shares of common stock, as well as a proportionate reduction in its shares of authorized but unissued common stock, effective as of today, February 17, 2003. The shares of the Company's common stock will be traded on the OTCBB as adjusted for the reverse split at the opening of the market on February 18, 2003. Following the reverse split, the number of outstanding shares of common stock will be reduced to approximately 24.7 million shares. Existing certificates representing the outstanding pre-reverse split shares of common stock will not be required to be exchanged for new certificates representing post-reverse split shares, but will be deemed to automatically constitute and represent the correct number of post-reverse split shares without further action by the shareholders. Any fractional shares resulting from the reverse split will be redeemed by the Company in cash based on the fair market value of the common stock.
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Pacific Aerospace & Electronics, Inc. is an international engineering and manufacturing company specializing in technically demanding component designs and assemblies for global leaders in the aerospace, defense, electronics, medical, telecommunications, energy and transportation industries. The Company utilizes specialized manufacturing techniques, advanced materials science, process engineering and proprietary technologies and processes to its competitive advantage. The Company has approximately 700 employees worldwide and is organized into two operational segments -- U.S. Operations and European Operations. More information may be obtained by contacting the Company directly or by visiting its Web site at www.pcth.com.
Forward-looking statements in this release concerning trends or anticipated results are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Actual results could differ materially from those stated or implied in the forward-looking statements. The forward-looking statements in this release are not guarantees of future performance and are subject to risks and uncertainties related to the Company's operations and its ability to obtain sufficient cash if and when needed. These risks and uncertainties include, but are not limited to, competitive factors (including the possibility of increased competition or technological development, competitors, and price pressures); legal factors (such as limited protection of the Company's proprietary technology and changes in government regulation); financial factors (such as the Company's debt load); and the Company's dependence on key personnel and significant customers. More information about potential factors that could affect the Company's financial results is included in the Company's filings with the Securities and Exchange Commission. All forward-looking statements included in this release are based on information available to the Company as of the date of this release, and the Company assumes no obligation to update any such forward-looking statements.
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