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Gold/Mining/Energy : Maxam Gold Corp. OBB:MXAM
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To: paunch13 who wrote (11049)12/21/2006 9:46:55 AM
From: Richard Mazzarella  Read Replies (1) of 11603
 
Hi John, it works like this. Assume there are currently 70m shares outstanding. A 1/10th reverse bring that count ot 7M. Then the company issues 63M more shares that they give 40M to funding suppliers and 23M to management. I can't count the number of times this has happened to me with crap penny stocks.

BTW, it could even be worst if they do a Reg-S for part of their funding and set the shares outstanding limit to 500M or so. Unfortunately I can count those experiences, but it’s still a large number of hurts I still suffer.

Regards,
Richard
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