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Microcap & Penny Stocks : PanAmerican BanCorp (PABN)
PABN 0.000010000.0%Mar 7 3:00 PM EST
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To: Tomstocks who wrote (21923)1/4/1999 8:01:00 PM
From: jhild  Read Replies (2) of 43774
 
Well technically, it is not clear that what is being discussed is a reverse split per se. It will just work out that way. Of course the spin on the Raging Bull thread is that it is the best of both worlds, because it reduces the number of shares and avoids the negative psychological feelings about reverses. Is there really any one gullible enough to swallow that load of hog wallow?

Then an additional benefit to this approach of merging into a new entity is that it would likely restart the clock ticking again as far as having to report financials. It kind of puts John Schmitz statement about not having to report in a new light. Why heck with timely enough schedule of mergers he could put off reporting indefinitely, now couldn't he? But then there would surely be some shills out there telling everyone what a good thing it was that they weren't reporting. That it was somehow a positive to shareholders to not know what they owned or not. That John Schmitz was junior Warren Buffet.

Never mind that reporting financials exposes the underpinnings of the capital structure and what kinds of classes of stock there are and just exactly who controls what and for that matter what the common holder is really buying when they are purchasing shares. For instance, what assurance is there that there is not a preferred class with wildly advantageous conversion rights? As of right now, it continues to be a pig in a poke. For those selling shares it is certainly an advantage not to have to report.
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