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Microcap & Penny Stocks : AMERICAN BIOMED, Minimally Invasive Technology (ABMI)
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To: dollarone who wrote (1496)7/22/1998 12:02:00 AM
From: Jeffrey L. Henken  Read Replies (2) of 2887
 
As usual in your attempt to discredit me you have merely discredited yourself.

You said: > A Company does not have to get shareholder approval to do a reverse stock split because ownership % remains the same.<

Wrong, the company does have to acquire shareholder approval.

Let me give you a couple of URL's from two other companies which recently did or approved reverse stock splits with their investors which will prove it:

biz.yahoo.com

biz.yahoo.com

As you know I participated in a private placement that helped raise cash for American BioMed when the company sorely needed cash. One of the things that I discussed with Steve Rash at that time was that I and the other investors in the private placement were not in favor of a reverse stock split. What you fail to understand is that I as well as many other investors have purchased a great number of ABMI shares on the open market. I have friends who own tremendous numbers of ABMI shares. I am certain that among these people we own well over 50% of the stock. A 1 for 2 reverse stock split at say $2 a share might be a good idea but we are no where near $2 a share.

Lets save the reverse stock splits talk for a time in the future when the topic is actually germane.

Please work on that due diligence will you?

Regards, Jeff
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