YFNC (SSCI) please be aware of the reverse split coming,
From todays 8-K:
freeedgar.com
Amendment of Certificate of Incorporation
Adoption of Amendment. On July 27, 2000, two corporations that
collectively own 18,500,000 shares, or approximately 57%, of the issued and
outstanding $0.0002 par value common stock of the Issuer (the "Old Common")
executed written consents to a proposed amendment to the Issuer's Certificate of
Incorporation (the "Amendment"). The Amendment was a negotiated element of a
business combination transaction described elsewhere in this Current Report on
Form 8-K and will not take effect until September 30, 2000. The Amendment was
filed with the Secretary of State of the State of Delaware on July 27, 2000.
When the Amendment becomes effective on September 30, 2000, it will (a)
implement a 1 for 40 reverse split of the Issuer's Old Common and (b) increase
the authorized capitalization of the Issuer to 100,000,000 shares of $0.008 par
value common stock ("New Common") and 10,000,000 shares of $0.008 par value
preferred stock ("New Preferred"). The operative text of the Amendment is set
forth below:
This is not a warning, as this deal may be a great one - however at .19 ask x 40 (for the reverse) would require it to be a $7.60+ stock, post split, for current shareholders to be in the black! |
