*AV*--The following story should be titled "Joke of the Day" since this stock just did a 1 for 8 reverse split and is still at 3/32 after the reverse split. Not only that, but unless my chart engine is totally beserk, this stock was trading well above 100 at one point in time. They are certainly taking a "one half the distance to the door" approach and never getting to the door. Why follow this company??? Well between VLNT and CVIA, I guess they are the hottest stocks to pick up to do a "shell game" down the road.
>VideoLan Tech to boost shrs outstanding
>
> Reuters Story - November 16, 1997 14:21
> %ELI %US %STX %DBT VLNT V%REUTER P%RTR
>
> LOUISVILLE, Ky, Nov 16 (Reuters) - VideoLan Technologies
>Inc said it planned to increase the number of authorized common
>shares to give itself more financial flexibility.
> VideoLan said in a statement it had received authorization
>from the majority of its shareholders to increase the number to
>500 million from 10 million.
> The increase will provide flexibility for possible future
>financing, recapitalization, and conversions of debt into
>stock, among other things, it said.
> "In addition, certain investors that participated in
>private placement financings...have recently converted several
>million shares of preferred stock and bonds into common stock,"
>it said. "These conversions have brought the total number of
>VideoLan common shares outstanding to approximately 40
>million."
> The company's stock ended at 3/32 on the Nasdaq market on
>November 13.
> VideoLan reported a net loss of $0.85 per share for the
>third quarter compared with a net loss of $0.87 for the same
>period last year, based on weighted average shares outstanding
>of 2.1 million and 1.7 million in the respective periods.
> VideoLan develops transmission and broadband switching
>technology to facilitate the transport of data, voice and video
>across copper wire.
BTW-Just think about the upside potential: 10 shares for a $1 and 1 million shares for $100,000. If the stock makes it back to $10 (forget that is was in the mid 100s less than 2 years ago), your life is made.
PLEASE, I am just musing with you. DO NOT TAKE THIS AS AN INDUCEMENT TO BUY THIS STOCK. Both CVIA and VLNT are being talked about on some services I am receiving. These people seem proud of the future for these 2 companies for reasons beyond my comprehension. I have to admit, though, that I watched CVIA go from 1 cent to over 3 cents within the course of a few days. A true triple of a penny stock<GGG>.
Anyway, in the quest for a shell company to launch a business, I have to keep my eye open for an opportunity. In the case of CVIA, apparently a merger within parties unknown, which may or may not exist at this time, is what most of the speculation must be about. Over the past few days, the float has turned numerous times.
Andrew |
