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Technology Stocks : Microprose, MPRS
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To: Hansy who wrote (318)4/1/1998 8:36:00 PM
From: Snake1132  Read Replies (3) of 633
 
The last MPRS board meeting was Friday, February 27. Events now make it clear that at that meeting the Board decided that a reverse split would be put before shareholders if there turned out to be no other practicable way to avoid a move to the Nasdaq Small Cap Board. The company waited until the end of March because it could: The Nasdaq grace period for being in non-compliance ends May 23. Prior company statements in the February call to analysts indicated the company was not willing to accept a delisting, nor did it see any way other than a reverse split to reasonably meet the listing requirements.

It is worth talking about these issues before they become official because the market learns of them before they become official. The stock rose 10 straight days before the GTIS deal was "official." The stock dropped precipitously days before the cancellation of the merger was "official."

So far, market reaction to the reverse split has been muted. Only on Tuesday did volume suggest there was some selling pressure because of the 1:5 split proposal. To all those who have lived through reverse splits I'd like to ask if MPRS stock is behaving typically? If there is selling, does it come when the split is announced, (as one would think) or later? Many posters to this and other boards really didn't want to see this come to pass... to all who are against the split, I really want to know what you think will happen to the stock price in the next months because the company is going forward with it. Have we just begun to see the effect?

I am certain of one thing. The reverse split has only psychological implications in the long run. A $40 million Fiscal Q3 will erase the Market's memory of a reverse split in May.

Snake
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