Georgia Bard's Corner Message Board

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Pastimes : Georgia Bard's Corner

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To: Ga Bard who wrote (893)	4/29/1998 9:44:00 PM
From: Crossy	Read Replies (2) of 9440

GaBard & all, on MEGH: I think it's a shellplay. In these situations nromally it's important to find out whether there will be a reverse split. My take on this; NO reverse split on MEGH. HEre's why: on SEC-Edgar filings I found an SC-13 as of last 2 months. "Stacy investment partnership files ownership status for 3.5 million shares" This means a "specialist" just took a big position in this stock. 50 million authorized, 11 million issued as of June/97. The "ominous" preferred stock also in place issued were a minimal amount of authorized: this is the TYPICAL SET UP FOR A SHELL SITUATION that is becoming to get filled.. Regarding the 144s filings: where the board meeting is required to release the "restricted" status: perhaps they did some sort of "delayed filing". Is this legally possible ? I know many out there play games with requirement datelines, Mr. Buffet for example <G>. But I also heard that if the shares were sold without the reqirements being lifted then they would have to buy them back. Sort of "spice" for the stockprice - this scenario. But unlikely. BTW I found another thing which I thought It's strange. I checked inside-trader. They list the people filing the 144s as type "U" or Unknown. What about this ? Shouldn't there be IA (Invest Adviser), V (Vice Prez) or the like ?? best wishes CROSSY

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