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Microcap & Penny Stocks : ARXA International (ARXA): Rapid Expansion imminent!!!!!!
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To: Raymond M. Barr who wrote (346)10/18/1998 2:19:00 PM
From: Provocateur  Read Replies (1) of 508
 
ARXA is another one I took the ride up on and sold a while ago. I liked the concept with regard to building a larger oil company through the acquisition of smaller ones and saving of money through off-hour business. But I knew it would come down, so I got out. I must say, I am surprised that they are doing this reverse split. There must be a lot more shares out there beyond the stated 23 million outstanding. Regardless, I think it will come right back down. 5 to 1 will only get it back to the $.50 area. I think it will come back to the .10 to .25 area easy. Might be worth a reentry at that point. I've been told they're about to complete another round of new financing, and announce more acquisitions. But the way they do business and treat shareholders, this won't be anything more than a short-term play for me. One more thing to keep in mind is that the new financing will be tied to stock. So the reverse split was probably one of the new financing's requirements. The only good thing out of all this is that the stock will move faster. But you have to watch out for the flip side, because whoever did the financing will likely have a boatload of shares to dump after the promoter's do their pump.

JMO,

Prov
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