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Microcap & Penny Stocks : Pacel (PLRP): If NASA likes them, shouldn't we?
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To: Warlock who wrote (19)9/10/1998 11:05:00 PM
From: broke2  Read Replies (2) of 3171
 
I have a serious question. Say I buy 10,000
shares a PLRP now for say .50 and sit on them
till this IPO or secondary public offering,
at $10.00,that is supposed to happen after the
first of the year sometime comes about. Do my
10k shares automatically become worth $10.00,
or do they get canceled in the new offering,
or do they do a big reverse split to bring the
shares I have bought at .50 up to $10.00.

Now I know they will not be worth $10.00 because
everybody in the world would be trying to get shares
of any stock that would just convert from .50 to $10.00
in six months or so. And I don't think the SEC would let
any company just cancel their existing stock just because
they wanted to. So that leaves a 1 for 200 reverse split as
the only alternative as I see it.

So I guess my question really is which one will it be or are
there other ways I have not thought of. Because no company
can have common stock selling for 2 different prices.
broke2
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