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Microcap & Penny Stocks : Dollar and Under Sleeper Stocks
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To: Logistics who wrote (3611)12/27/1997 7:54:00 PM
From: Jerry Thibeau  Read Replies (2) of 8835
 
NMFS could be an interesting play over the next 3 days. The stock is currently trading at an all time low (.25). The company has just announced that it will be doing a 10:1 reverse split effective 12/31 pending shareholder approval.

What makes this company attractive is the fact that they currently have a book value of just over a dollar/share.

The split was just announced on 12/26 and the stock price declined over 10% on light volume. My guess is that this stock will continue on a downward trend on Monday when people notice the news.

In this companies case I think a reverse split will do it justice. The reverse split will dercrease 15 million shares to 1.5 million. The float will be reduced from 2.7 million to 270K. Book value will be over a saw buck.

The chairman recently recently filed with the SEC for a dercease in ownership by 1,100,000 shares. It appears that he put the shares up as collateral for a loan. Now I am not sure if the lender has sold the shares, but the Chairman has been awarded a judgement against the lender and he is currently in the process of trying to get the shares back (sounds like EUTO). I plan to call the company first thing Monday morning to find out more about this situation.

I am thinking about picking up some shares should they continue to drop in price on Monday.

Does anyone have any recommendations or comments concerning this company.

JT
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