Hi Dusty,
Great job as usual. You should post your findings regarding Coast Northwest's credit rating.
A reverse split is a possibility, I hope the parties involved are aware of all the negativity surrounding reverse splits.. Can anyone tell me of a single positive experience with a reverse split? That would be helpful..
Dusty, you said <It would take a very large company or group of companies to absorb all the shares in float>. At 0.038 a share, the whole float would be just around $2M, and could be absorbed by a few companies or big investors, IMO. I think if there is a plan to do a reverse split some time in the future, it's to bring the price up to non-BB level, and to move to a larger board. If we only knew who the major holders are, and what they want do with their proxies should there be a reverse split decision.. Here is one, to start with:
Leu, Werner c/o UFH Endowment Ltd.
Drescheweg 2, Postfach 828
Vaduz
Liechtenstein, FL-9490
8,876,035 shares as of 8/10/97
Like many other thread participants, I'd prefer to see an increase in shares authorized/oustanding. I asked Jack Arnold about this possibility, and here is his response of 12/23/97:
"...Regarding your question about authorized shares.
The question of an increase in authorized shares and the question of a
reverse split cannot be accurately answered at this time. Obviously, some form of addition or reverse will be necessary as the main value CVIA brings to the table is a fully reporting clean public shell which enables a private entity to go public...
...The current letter of intent may include an increase in authorized shares. These details are being worked out at this time..."
Full text: Message 3031191
Milk |
