UNIVERSAL EXPRESS INC - USXP Message Board

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Microcap & Penny Stocks : UNIVERSAL EXPRESS INC - USXP

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To: TraderGreg who wrote (466)	6/30/1998 10:46:00 PM
From: jmt	Read Replies (1) of 2493

>>>The reverse, on the otherhand, can be voted on by the Board and unless the shareholders demand a proxy vote, it becomes a fait accompli. After the reverse, a company can start oozing shares out.<<< This is against the intent of the law to let shareholders control the vote of shares. A book I reviewed tonight even stated in some state charters new shares have to first be offered to current share prior to issue to public. I know you are confident of you position. But is it based on your experience or the law? If it is the law, lets find the SEC pronouncement. until then, I am not convinced. jmt

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