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Microcap & Penny Stocks : Here's a New Approach

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To: SellShort who wrote (456)	7/12/2000 10:18:37 AM
From: Patricia Meaney	Read Replies (1) of 654

When you purchase ADR's you aren't purchasing actual ordinary shares. You are buying shares in a non-US company. They set a ratio to establish how much each ADR is worth in comparison to actual shares. So when they changed the ratio on HTD from 1-5 to 1-25, the number of ADR's (not ordinary shares - ADR's are what you would own if you bought some) gets divided by five and the price the day of the change was multiplied by 5. Unfortunately most people don't know this and it appears like a reverse split since it theoretically does the same thing. Here is an explanation on ADR's which might make it clearer than my mumbo-jumbo! stocks.miningco.com

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