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Microcap & Penny Stocks : Advance Gaming Technologies Inc. (AGTI)
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To: Mandinga who wrote (4140)1/27/1999 3:43:00 PM
From: Ken Sammut  Read Replies (1) of 4539
 
Manginga,

Just before the company went into bankruptcy, it did a 1/4 (reverse split at the end of June, 1998). At the time, shareholders were under the belief that the reverse took place as a last gasp measure to try and secure financing.

On news that the reverse was taking place the stock fell to about a penny (pre-split). It had been trading close to 10 cents. Right after the 1/4 reverse split took place the shares traded around 4 cents but you had 1/4 of your original shares.

It then traded from 4 cents to under a penny. So when I said in an earlier post that even at today's 5 cents level it would equal just 1.25 cents of the pre split price. Plenty of room to go up!

Forget the rumor about the 7/4 split. The person who started it found out that his broker made a mistake on his confirmation report.

I doubt a company that is about to come out of bankruptcy would be in a position to buy back it's own shares. If they did have some cash to work with, I am sure management can find better things to do with it.

The stock is an interesting play as other penny's that have come out of bankruptcy (debt waived or reduced) have received a lot of buying. Looks like that is what is happening here.

Ken
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