Any word on that deal that was getting inked on the 1st.
Glad I stayed on the sidelines this time. At least they fired a warning shot:
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ARXA International Energy, Inc. Announces 1:5 Reverse Stock Split Effective October 26, 1998
PR Newswire - October 14, 1998 17:01
HOUSTON, Oct. 14 /PRNewswire/ -- ARXA International Energy, Inc. (OTC Bulletin Board: ARXA) announced today that its Board of Directors had approved a one for five reverse split to be effective at the close of trading on Monday, October 26, 1998. Under the terms of the reverse split, one new, post-split share will be issued for each five old, pre-split shares, with fractional shares rounded up to a full share.
Craig Ford, President & CEO of ARXA, explained that the reverse split is the next step in the strategic strengthening and recapitalization of the Company. A series of mergers and acquisitions made possible through interim, project and long-term financing are expected to be announced shortly.
ARXA International Energy, Inc. is a fully reporting public company engaged in oil and gas reserve acquisition and development in the US. For information contact George Bentley, (800)641-5844. ARXA can be seen on the internet at arxa.com.
This press release contains forward-looking statements, such as future development activity. ARXA notes that there are a variety of factors which could cause the actual results to differ materially from the anticipated results expressed.
SOURCE ARXA International Energy, Inc.
/CONTACT: George Bentley of ARXA International Energy, Inc.,
800-641-5844/
/Web site: arxa.com
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