Private companies using reverse process to go public Message Board

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Microcap & Penny Stocks : Private companies using reverse process to go public

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To: Rob D. who wrote (57)	6/2/1998 3:21:00 PM
From: Chloe R	Read Replies (1) of 62

Rob, Checked it out - pure craziness!! It is remarkable to me how many people invest in things without doing the necessary DD. People were buying and selling not even knowing the total # of shares - crazy!! It is unbelievable to me that the discussion is not revolving around the private company being merged in. THIS IS NOW THE COMPANY. There isn't even any information as to what percentage of the new company that the PRWT shareholders end up with. These reverse mergers usually only leave 10% or less in the hands of the original shareholders. Any more than that and the private company is usually a dud. Someone even made the preposterous statement that it was a share for share trade. Well, how many shares does Pan American have? It could be a billion as far as those people know! The "share for share" could mean 3% of the new company! Again, the whole thing is crazy. I would stay very clear from it. Nobody could even offer a website or earnings on the private company. Buyer Beware! Clo

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