TNRG Tianrong Building Materials Message Board

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Microcap & Penny Stocks : TNRG Tianrong Building Materials

TNRG 0.0300

+14,900.0%

Jul 17 12:46 PM EST

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To: Loren S. who wrote (3550)	10/15/1998 6:02:00 PM
From: TraderGreg	Read Replies (1) of 9824

One question that has been addressed by others in the past is how the debentures relate to reverse splits. Will the $3.00 conversion still be the same if the stock splits or does it change with the reverse? Excellent question. With a quality listed stock, a forward splits almost always adjusts option and debenture strikes accordingly. I asked Tilton about this same issue months ago. He said that he wasn't sure how they were written but that I had nothing to worry about 'cause there wasn't going to be a reverse split. Not encouraging that the two things we are concerned about the most(shares o/s and reverse split possibiliy) were conveniently ignored by him. PKGP, when it was trading in the sub-dime range, had similar debentures and after they did a 1 for 70 reverse, the strike price for those debentures was NOT adjusted. As far as the dilution, it is already here and with us. It would take awesome news to overcome the inertia of this float. The only positive thing is this. Most of these BBs wait for some type of rally before doing a reverse. IMHO, only a complete idiot or a fraud would do a reverse after the price has already eroded 95%. TG

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