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Pastimes : The Justa & Lars Honors Bob Brinker Investment Club
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To: Hank Stamper who wrote (5596)6/4/1999 11:27:00 AM
From: Carl R.   of 15132
 
Truth is stranger than fiction. The transaction described above is essentially what QNET actually did, although in two stages separated by a couple months. They did a reverse split in order to raise their price enough to stay listed, and then did a stock dividend without adjusting the price. They did restrict the dividend shares from being traded for a year (except for insiders .... er I mean long time shareholders). The stock price did drift down slowly after the transaction, but due to confusion over the record date no one knew where they stood. Also due to the fact that sales and earnings were not involved with the pricing of the stock, the transaction did work to substantially increase the value. Note: I have never traded QNET.

Carl
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