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Microcap & Penny Stocks : OILEX (OLEX)
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To: GrnArrow who wrote (891)3/20/1997 2:18:00 AM
From: Yiqun Xie   of 4276
 
If reverse split rumor is true, I am not surprised. The company may need to do it for two reasons:
1) get share price greater than $3 and go to NASDAQ.
2) Reduce share outstanding so that they may issue more shares for acquisition.

However, investors are usually scared by reverse split. If it is a must, I would suggest ratio of 10 for 1 instead of 5 for 1. And I would like to see some production volume or last Q profit comes out with reverse split news.
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