PFCK Gets $50 million cash infusion Message Board

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Microcap & Penny Stocks : PFCK Gets $50 million cash infusion

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To: Offworld who wrote (226)	4/21/1998 4:29:00 AM
From: Ryan Yu	Read Replies (1) of 716

My goodness... 3. Reverse Stock Split up to 1 Share for 5 existing Shares -- This proposal would give the Board of Directors the flexibility to adjust the total shares outstanding for future qualifications to NASDAQ listing and to enhance shareholder's value. Noted still a proposal, as I hope the stockholders that attend do not vote for it. Couldn't the company just buy back their shares with that big loan of $10,000,000? I mean with 11 million shares outstanding, 4.9 million of these shares belonging to CEO and Bryan Redaker. So the 6 million shares left, buy back 4/5 of them for $2,400,000 or so (at the current market price range), and use the rest of the capital (a whopping $7,600,000) to raise the stock price with good old honest hard work? I can't believe this company. I'm not sure if peacock is popular enough to get buyers for their shares at reverse-split prices. Even companies with hundreds of millions shares outstanding like ADGI are not undergoing reverse stock splits and these guys would have the nerve to do so? The story unfolds, and its not looking good. Let us know whats in their response to your email. Or give them a call at Tel (909) 487-8911 Anyone have any positive comments about the reverse stock split?

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