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Microcap & Penny Stocks : 1ST MIRACLE GROUP (MVEE), founders last co. went $0.20-$46
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To: Timm Eckenroth who wrote (5057)2/17/2000 12:40:00 PM
From: Walter Morton  Read Replies (3) of 5541
 
Should MVEE makes an announcement a few days before it does the reverse split?

I agree with a reverse split to reduce the shares outstanding. But I don't agree with a reverse split just to create the illusion of value. This will not help MVEE in the long-term.

Reverse splits used just to get the price up is just manipulation which usually results in the stock price falling within days of the reverse split. I believe, MVEE would need to maintain the price above a certain level for the duration of the Nasdaq application process anyway.

Really, how many smart investors with money are going to invest in a company with MVEE's history and 1,000,000,000 shares outstanding? MVEE could easily increase its credibility an by reducing the number of shares outstanding to 100 or 200 million. In this scenario, I am talking about a 1-for-10 or 1-for-5 reverse split and a price of $.40 or $.20.

That would put MVEE's price right in line with NSKY's price. You know... the company that just released one movie on HBO and had its stock price go up from $.03 to $.20.

If MVEE did the reverse splits as described above and then released news about the release of Speedway Junky in March (by Regent Entertainment) and then updated the market on the status of other projects, MVEE could easily reach $1.

However, any combination of reverse splits is not going to help MVEE if it does not prove to the market that it actually can release some of these movies that it claims to have in-production and completed.

Anyway, I believe TC should prove that he is capable of leading MVEE to a price that is acceptable to Nasdaq without doing a huge reverse split.
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