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Strategies & Market Trends : Wire to Wire Daily Stock Picking

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To: Jeffrey L. Henken who wrote (3473)10/24/1999 9:28:00 PM
From: JD  Read Replies (1) of 3514
 
CTIG

From the Proxy Statement filed with SEC 9/17/99:

"proposed amendment to the Company's Certificate of Incorporation to increase the
authorized common stock from 10 million shares to 50 million shares in order to:

...(c) Assist the Company with its ambition to regain its listing on the NASDAQ small cap market by providing the adequate feasibility for a potential reverse split."


I don't know anything about this co., ran into this statement on the first SEC form I
looked at, and couldn't go any further on my DD - I was laughing too hard!!

Let me see if I got this straight, they want to increase authorized common stock so they
can then turn around and do a reverse split to reduce the # of shares?!

I'm sure this stock is a fine trading vehicle, but for long term investing one key question to research is will the profits grow faster than the # of outstanding shares? This is not a recommendation to buy, hold, or sell but is a recommendation to do through DD.

Jerry
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