Dear Larry, SBAM-SCAM's latest move: a 1:200 reverse split with gimmicks
Stella-Bella has the gall to describe this desparate move as:
"Stella Bella Corp. USA readjusts its shares giving
stockholders a surprise bonus"
I have recapped the recent horrors of SBAM-SCAM in my previous post:
techstocks.com
Here is Don Bauder's update (from uniontrib.com) :
DON BAUDER
don.bauder@uniontrib.com
19-Apr-1997 Saturday
Coffee hangover
Deeply troubled Stella Bella Corp. is having a reverse split of its stock. For every 200 common shares, investors will receive one common share and 50 warrants to purchase additional shares; one convertible preferred share and a stock participation right.
After the restructuring is complete, the company says, the number of outstanding common shares will drop from 112.8 million to 563,800. The company also says it will refocus its efforts on its core coffee business, and seek more opportunities in the former Soviet Union.
As previously revealed, Stella Bella's main financial backer, Steven (Vladislav) Zubkis, is being investigated by several entities, including the Securities and Exchange Commission, Internal Revenue Service and FBI. In turn, he has sued those agencies and/or employees of them.
Last month, Zubkis told me the New York Attorney General's Office is
investigating any links he might have with the Russian Mafia. The office would not comment on that aspect of its probe. The New York AG has charged Stella Bella and Zubkis did not provide key documents for the investigation.
Amazingly, suckers are still being found to trade money for SBAM-SCAM "securities".
Peace,
Droog |
