Ut oh ... MVEEE I smell a reverse split coming!
207.46.189.31
Miracle Entertainment Provides Additional Update Regarding the Additional 'E'
May 10, 2000 04:27 PM Eastern Time
LOS ANGELES, May 10 /PRNewswire/ -- 1st Miracle Group, Inc. MVEEE , a diversified film and production company today announced that it is continuing its efforts to resolve the SEC comments regarding its latest 8-K filing of April 7, 2000.
The Company has until May 11th to have the outstanding comments resolved or it would be moved to the Pink Sheets. Commenting on this issue, Tony Cataldo, CEO of Miracle Entertainment, "We have diligently worked with the SEC to resolve their outstanding comments. While we believe that these issues will be cleared, there is no definite date. Once we clear the comment period of the SEC we are going to immediately prepare to make an application for a listing on an US Exchange other than the OTC Bulletin Board."
Mr. Cataldo further stated, "The Company outside of its per share price meets the listing requirements for Nasdaq. We have $12 million in available capital, a $10 million credit line, $150 million of off balance sheet financing and several completed films that are going to be distributed in either late summer or early fall along with several other production deals. There will be no tangible effect on our operations, nor should there be. We are moving this Company forward and preparing for its future on a main exchange."
This statement includes forward-looking information as that term is defined in the Private Securities Litigation Reform Act of 1995, and, therefore, is subject to certain risks and uncertainties. There can be no assurance that the actual results, business conditions, business developments, losses and contingencies and local and foreign factors will not differ materially from those suggested in the forward looking statements as a result of various factors, including market conditions, competition, advances in technology and other factors.
SOURCE 1st Miracle Group, Inc.
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Now, the only way IMHO, that I can think of for them to get their share price up in a hurry, is a reverse split.
JMHO, FWIW .....
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