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Microcap & Penny Stocks : CLEA, Claire Technologies, Inc.
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To: Bob Witt who wrote (119)10/11/1997 11:04:00 AM
From: Alan Whirlwind   of 121
 
Bob, I sold out my last shares some time ago at .20 as soon as I heard of a reverse split coming and I only had about a three day window to get the 20 cents. It usually means as far as I can tell that the company is at the end of its rope. The reverse split reduces the number of shares outstanding which I assume discourages shorting of the stock. Your stock is now in pre-split terms selling at a nickle a share. It could drop to half that, but a company shell is usually worth five cents on the average I guess. I owned quite a bit early last spring, but doing my DD I ran across an SEC filing which which I interpreted as showing the company spending an unusual amount of money on overseas travel to drum up new capitol investment. To me that was the signal to dump and most of it I did then. If you go a number of posts back on this thread to last spring you'll see a post where one of the regulars on this thread called company PR to ask why the company was suddenly trading in the 30 cent range instead of 40 cent range. The alleged PR response was that through sales of assets and acquisitions the company could well be trading at $2 - $3 a share by year end. That was a red flag to dump immediately if there ever was one.
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