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Gold/Mining/Energy : JABA INC.(c.jba)

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To: John Gorham who wrote (868)	10/23/1999 1:30:00 PM
From: T.Bill	Read Replies (1) of 1044

John: Your discussion paper doesn't provide much comfort: Yes reverse splits most often turn up with stocks in a down trend, leading to your observation: "the chances are the shares will continue to drop whether or not there is an RS" Please don't come over to comfort me when things are really going bad! Also, regarding your percentage decrease argument: Bottom line is, a stock at 50 cents can lose 20 percent as quickly as a stock at 5 cents. You also have to look at the loss over a longer time period than one trading session. Your 50 cent stock can average a few cents down each day over a few weeks while your 5 cent stock repeatedly gains and loses a penny. You've also over-looked investor sentiment/hostility toward an RS, the psychological floor that may exist with a stock trading at a couple of pennies, and shorting strategies surrounding RS's. What I do agree with is that this company needs cash. The way to get it without hurting the faithful existing shareholders is through a rights offering to the common shareholders. As negative as I am right now, I would participate in such an offering, rather than have the dilution work against me! T.Bill.currently.disappointed.in.management.

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