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Non-Tech : Lunn Industries (LUNN)
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To: Sergio H who wrote (1016)9/27/1997 10:17:00 PM
From: TheInvestor   of 1436
 
Sergio,
My last experience with a reverse split has been a deadly one. I
brought a penny stock Telechip (TCHP) 2400 shares at .21, the company
announced a reverse split and made it sound like it was for the
benefit of the stockholder, it was a 15 to 1 reverse split and I end
up with 160 shares at $3.15. Within a few weeks the stock slowly fell
back to becoming a penny stock. The company since had filed a chapter 7 and had been liquidated. The stock had been delisted from NASDAQ and trades in OCBB, every now and then the MM have a field day trading a few thousand shares of this trash. Now it is worth $.0375 and my total investment of $500 is now worth $6. The moral of the story,
"a reverse split is the kiss of the death for a company".

I realize that LUNN is not going through a reverse split but a merger
but it is important to understand the implications of reverse splits
for newbies.

Best of Luck to all,
Ben
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