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Technology Stocks : ABLC - Ableauctions.com - EBAY with an attitude!
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To: DoubleOddBuck who wrote (17)7/27/1999 12:21:00 PM
From: hammer  Read Replies (1) of 70
 
I talked with Northstar today, unable to get ahold of anyone at Able, and apparently there is some confusion.

NASDAQ beleives the split was to occure as of last Fridays 7-23 close, Able believes the split was to occure last Tuesday 7-20 before the first day of trading. NASDAQ moved ahead with the 5 for 1 split and adjusted the price and stock accordingly. Able attorneys are in discussions with NASDAQ now in an attempt to resolve the confusion. IMO we have a couple options:

1) NASDAQ split stays in place, we still have 12,500,000 shares and shareholders on record receive a 5 for 1. Price remains the same and we may very well see another run to $6.

2) Ables interpretation of the split is correct and NASDAQ screwed up, trades since Friday are cancelled and we go back to Fridays closing price and begin again. (is this possible?)

Does anyone see other options?
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