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Non-Tech : UAI - Unistar - BB reverse merger that moved to AMEX
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To: Q. who wrote (38)7/22/1999 2:04:00 PM
From: RockyBalboa  Read Replies (1) of 133
 
N, The vanishing of IFHC value in numbers:


.... the Corporation purchased all of the
     issued and outstanding shares of common stock of International
     Fidelity Holding Corporation, a Texas insurance holding
     corporation ("IFHC"), in exchange for 19,777,000 shares of common
     stock, $.01 par value per share ("Common Stock"),
....


So, $3M equal now 19.777M shares. This puts the now applicable value to only $0.15 per UAI share.

Any estimations that UAI may be worth $3.73 to $8 lie into ashes now. I wonder whether it will trade again.

Another note: As there are no burnt longs out - I mean, no folks who complain, it looks like noone owned UAI shares except the directors.
So I doubt that it is in public interest to let it trade again.

SEC needs to investigate the company, and if deemed necessary and approbiate, impose a permanent trading halt for the shares.
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