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Gold/Mining/Energy : American International Petroleum Corp
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To: pat w. who wrote (149)7/12/1997 10:34:00 PM
From: Taylor Mill   of 11888
 
Pat W >>this stock was trading at $24+ range in 1991-1992. does anyone know the history behind the decline. please post it, if you do.<<

I think its called a reverse stock split.

If I remember correctly the company was trading in about the same penny stock range as it is now in the early 90's as it was hyping its Colombian oil opportunities. Then the hype bubble burst and the stock sank so low that they did at least 1 reverse split if not more to maintain the big $1 price range that they still were well under before the latest misleading "news". The reverse split only makes it appear like it was in such a "better" condition back then --- it was still a hyped penny stock with just a lot more shares outstanding. It sank so low it had to reverse split to "make itself look good" again.

I promise not to tell what I think any more about this company's past or present actions or true prospects of success like I did with HEC if someone else will volunteer. <vbg>
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