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Microcap & Penny Stocks : UNIVERSAL EXPRESS INC - USXP
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To: jmt who wrote (385)6/30/1998 3:37:00 PM
From: TraderGreg  Read Replies (1) of 2493
 
The authorized shares absolutely do NOT get reduced accordingly. That's the problem with a reverse. If PKGP had 50 million authorized yesterday, they still do. Occasionally, as a crumb, a company may do a huge reverse(like 70 for 1) and then cut the authorized in half, but they sure don't have to do that.

I have been through enough of them to know the failure to reduce the authorized is THE problem.

TG
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