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Gold/Mining/Energy : Solv Ex (SOLVD)
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To: sacrqb who wrote (5117)11/23/1997 11:25:00 PM
From: Gary L Schultz  Read Replies (1) of 6735
 
Sacrqb,

I agree totally. It is irrelevant who is right or wrong on this stock. If Dave and the others are right (I have no reason to believe they aren't sincere) I'm still afraid that too little, too late by the SEC will not save the current shareholders of this stock.

I too had a similar experience - Braniff Airlines. Back in the late 70's or early 80's, just as summer was beginning, I bought Braniff. I subsequently lost my proverbial ass on the stock when it reverse split 125 to 1 - then a company called DALFORTH or DALWORTH bought out the new shares in a stock deal. I ended up with about 20 shares of the new companies stock which was valued at 40.00 per share. Net loss - I can't remember (a protection mechanism - very dangerous!). I realize that the common shareholder is last in line in these types of conditions. I guess it's risk side of the risk/reward equation. It still doesn't make it any easier.

In the case of SOLV. I feel confident that the current shares will have to be restructured to reflect the equity/asset position of the new company. I don't say this to offend anyone, but if I owned these shares at this time, I would be very tempted to sell at 2.00 the next time the stock hit that price. If it turns out that SOLV does indeed make it - then you could always buy back in later. Don't let GREED influence your investment decisions! There...that's my advice/opinion, and I sincerley mean it in the most positive way.

To all: Watch out for this same scenario playing out in this stock as well. IMO these "legal" tactics are nothing short of robbery!

Regards,

Gary
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