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Microcap & Penny Stocks : Diamond Entertainment Corp (Previously DMEC)
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To: im a survivor who wrote (6929)2/6/2000 3:25:00 PM
From: Ga Bard  Read Replies (1) of 6957
 
Ok I just talked to James and all he is doing is trying to get the authorization to do a reverse split and the reason for the authorized increase is because he is under the impression that a reverse split also reverses the authorized.

I am going to check in on that but I do not belive that is accurate and he is under a wrong assumption or advise.

He is looking for a reverse merger candidate and on 40M available @ .10 = $4,000,000.00 deal.

The way he has it figured is he can increase the authorized and issue shares for a reverse merger then reverse split it. The percentage of ownership does not change for the vested parties.

Now he told me he is not going to do a reverse but only wanting authorization ... He is looking for a reverse merger and just wants his ducks in a row with the stock structure.

I hold no position but I do not mind calling and getting what I can.

Gary
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